Eric Sprott has just released an informative webcast. He starts with talking about the abysmal state of affairs in the USA and then the Euorzone. The Euro banks are leveraged 20 to 1 and in terrible shape. They are experiencing what is essentially a bank run. 100's of millions of dollars are fleeing Europe's banks and moving to the US or Switzerland. At the 9:45 minute mark, he discusses gold mining stocks and how they've underperformed bullion. He thinks this has ended starting last Wednesday.

http://www.sprott.com/Default.aspx?uType=can#1

(It wouldn't load using Firefox for some reason but plays using Internet Explorer)