You are pretty close to understanding.
If you read more analytical work, by those who study these matters and are well educated, it will help you to understand. As the sector deteriorates there is a strong current that washes away value for everyone. (Baby out with the bath water, if you will.) Even great fundamental improvements cannot win against the outgoing tide. When the tide or current turns, investors will venture back into the sector, but without the blind enthusiasm with which they were investing with gold at record levels.
They will pick and chose carefully as they tepidly move back into the sector. They will look very carefully at the companies where they put their money. With our great potential, good management, and profitability, they will invest in companies such as ours, and those companies will out perform the GDXJ. The GDXJ's seventy odd companies are not all as sound or attractive as ours. That ameliorates the ability of the sector to advance, and some of the companies may even fail. This affects the performance metric of the GDXJ.
I am sorry this is difficult for you to understand, but that is how the system works. Those who do not accumulate more shares during times such as this, when the opportunity presents itself, are doomed to mediocre performance and miss great opportunities. But, without people of that vein, it would be much more difficult for those who understand the metrics, to make great returns on their investments. So we do owe you a debt.
As to your insults about "phantom meetings", you obviously do not attend any of the conferences held all over the world, nor attend any of the receptions, and invitation only meetings associated with them. There are often published invitations on our web site and in the media. Don't criticize informed, involved, investors just because you chose not to participate.
