Ann: Quarterly Activities Report, page-12

If you look at the type of gold stock a holder seems to favor, you are gonna get those who follow the strong trends or bottom pick because it is cheap. If gold price were at the super pits on the 2016 low, then those bottom trawlers will outperform in the short run on ROC but you had better jump off before the wall of long term holder pains of previous run start to cash in their 'get out of jail free' opportunities.

The new breeds has sustain power because everyone flicking a chart sees that premium from the market valuation. One thing I give companies like NST/EVN is the ability of options available to them. Literally they buy low and sell high in terms of their opportunistic asset purchase. They bought off the big boys because those big Americans had to sell their crown jewels in order to reduce dangerous debts but no one will buy lousy assets. Those package deals has obviously good and bad attachments. NST is Plutonic and EVN is Edna May. Both were able to off load as gold price rallied for the new comers who found it difficult to organically drive growth. This is all factoring approval from market trends in the SP. That is it....

Given the gold fundamentals are not exactly conducive for XAUUSD rally driven by the US bond yields/USDX side effects, I would be kind of nervous holding on to struggling producers in this climate. Should the XAUUSD tanks and starts to fall, these bottom trawlers will feel the heat a lot more through their quarterly results. I don't need to refer to the producer that had a big sell off recently as an example. Good luck to the holders.