I would agree with that analysis of the gold mining industry-but there is a huge diference between well run competant gold mining companies who have a good reputaion but have fallen victim to cyclic gold prices and Vancouver Penny Gold Mining stock shell games -a HUGE DIFERANCE.
Gold prices will come back-at some point,and gold miners will shine again[last time was about 25 years ago]-but chances are the marginal players whose management appears to be mining gold from shareholders pockets won't.These companies tend to go with the flavour of the month,whatever naive starry eyed shareholders trying to get rich want to chase this time around,gold,diamonds, tech companies,doesn't matter to the insiders who set up the shell games.Same game-diferent name