Conclusions -

It's certain the reason why investors have abandoned gold mining as a whole are lower interest rates. They are offered lower interest rates with which to invest, and thus gold mining companies are at the advantage in raising capital and adding value. But there was a bottomless pit with a liar up at the top. Lower interest rates are instead the bane of gold mining investment.

But at everyone's insistence, interest rates are supposed to rise, and we spend an agonizing year or two looking forward to something which will surely 'blow' the markets, which are in a liquidity trap.

So the prospect of a rise in interest rates is surely meant to benefit equities. But no one will be investing in gold, which magically appears on the futures markets and in ETF vaults as if it were conjured out if the ground, and certainly be avoiding the dead skunk in the middle of the road, gold mining shares.

Gold miners simply avoided necessary engineering studies in the hopes of jawboning alpha, when in reality they are the yielding asset in the gold space.

-F6