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NOTE: Since there isn't really a junior index I used the CDNX index which isn't really a perfect match but nevertheless good enough to draw our conclusions
Now three months later the juniors are still not performing well but they had to fight a severe drop in gold. The good news however is that the junior sector didn't correct as much (percentage wise, CDNX index) as the yellow metal itself. This of course translates itself into a rising CDNX/GOLD ratio. In other words, it seems that the CDNX/GOLD ratio has bottomed out! Now wouldn't that be nice!! I'm already loaded to the gills with NSM; maybe its time to take a flier on a few more? All in all, Northern Star has held up very nicely during this 18month junior bear. |
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