Interesting note on that. BMXI has the most abysmal correlation to Au out of ALL of the miners. Probably the worst. But, I read that as a measure of whose hands we're in here. Surely we're not in the hands of the wider mining investor community, who, over the last few weeks whilst gold has been mooning, have been placing vicarious higher beta bets through miners. Why not here?
Quite simply, I believe the market is not placing a value on the gold under their feet.
But I can't blame them because its a lot of "possible" reserves here as opposed to actual reserves. That's the price we pay for being early, and the risk we take.
All juniors are risky. But I wonder if this "Nils Gambit" of buying a swathe of previously unprofitable mines in the hopes higher Gold prices will tip the scales in their favor will not only pay off, but spread around the risk. So that the failure of any single project, unlike most Juniors, won't break the entire company. (It'll sting we little guys here though I'm sure). ---> I just worry about dilution, and maybe thats what more experienced mining investors see as inevitable here.
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