Great Basin Gold Ltd. (fka GBGLF)

[Damnsammit]

Hmmm... I kind of get it but still not really. The NAV is the prime driver in an ETF, right?

So how does ~40M shares of a company trading at 0.015 ($600k) have much of an affect on an ETF that has $7.1B in total net assets (GDX)? That only makes up 0.0085% of the total assets, so why would they be inclined to sell GBGLF at a loss?

I guess I need to read up more on ETFs because initially I didn't think they were as confusing as this.

Sorry to keep asking questions, but it's a slow day at work and I am trying to expand my knowledge. Been browsing through investopedia to try and learn more about ETFs, but am still coming up with more questions than answers.