GOR? On? Out? when?, page-222

Gold mid-tiers’ Q4’19 fundamentals March 20, 2020
"But while there are plenty of great mid-tier gold miners in GDXJ, there are lots of other ones I wouldn’t touch with a ten-foot pole based on their fundamental outlooks. Far-greater gains can be won by handpicking the best mid-tiers and avoiding the rest! This is a gold-stock pickers’ paradise.That’s why I started our long-awaited redeployment into gold stocks this week after they crashed. Buying low when few others are willing is necessary to maximize later gains. The bottom line is the mid-tier gold miners reported awesome results in Q4, directly driven by its much-higher prevailing gold prices. The mid-tiers also had far-better output growth than the majors, helping fuel soaring revenues, operating cash flows, and earnings. And implied earnings growth continues to look massive with gold powering even higher still in Q1. The mid-tiers’ fundamentals should continue improving.Even at their relatively-high late-February levels, the mid-tier gold miners’ stock prices were seriously lagging their huge profits growth. But after this insane COVID-19 stock panic crashed this sector, these stocks are trading at some of their steepest discounts to current fundamentals ever! That gives them epic potential to mean revert radically higher as fear fades and gold recovers, yielding huge gains to early contrarians."(Adam Hamilton, CPA – Zeal LLC – www.ZealLLC.com)