I think you also have to put things in the context of mining juniors in general, which as a class have not done well lately.

Jim Puplava has alluded a couple times to a hedge fund play that involved going long the major producers and short the juniors, and has resulted in juniors not participating in the recent gold runup. Hopefuly this will change soon.

If JP is as accurate with his "2008, year of the junior" call as his oreo theory has been so far, happy times ahead. I think micro-analyzing the short-term fluctuations of any particular junior is not that fruitful.