Hi everyone,We had quite a ride the last 6 weeks, didn't we?...

Hi everyone,

We had quite a ride the last 6 weeks, didn't we? From the highs of 24th February to the bottom around mid-March, we have seen a recovery of sorts though not quite where people would want it of course.

What I thought is quite interesting to take note of is which of the gold miners have returned to trading at levels similar to that in late February.

Based on a quick browse, these are the companies that stood strong in the wave of the tsunami we had (by no means the perfect list and not in any particular order, working off the top of my head):

Evolution Mining, Saracen Mineral Holdings, Silver Lake Resources, Northern Star Resources, Gold Road Resources.

We also saw some companies needing to raise capital in order to either shore up their balance sheet or to hold more for future growth, but this means they saw their stock price dropping substantially due to dilution:

Resolute Mining, Red 5, Dacian Gold (will come out of trading halt and be quite battered, ouch), Blackham (can't forget about good ol' Blackham)

As for companies with exciting developments coming up, such as mines that are getting ready to produce, we have a few:

Perseus (Yaoure at the end of the year), West African Resources (Sanbrado ramping up to commercial production), Westgold (Big Bell ramping up), Ramelius Resources (Greenfinch), Kirkland Lake (Detour mine), Northern Star Resources (Kalgoorlie Super-Pit acquisition and recovery of the Pogo mine), Saracen Mineral Holdings (Kalgoorlie Super-Pit acquisition from late last year adding ounces into their production)

Anyway, should be interesting to see how the second half of the year will go for this industry. Personally, I am heavily invested in this industry because there is potential for some out-sized returns, but not without bumps along the way. Love to hear your views about what you see are attractive and what is unloved but deserves attention.

Regards,
Brian