Gold has been rising for a while…
… but gold miner earnings haven’t kept pace because production costs were rising nearly as fast. So gold mining stocks have been, in the aggregate, seriously disappointing.
But lately — finally — the price of gold has started to outrun production costs, and miner profit margins have started to expand.
Last week two big players in the precious metals space showed what this new environment means for their earnings and cash flow. And the story only gets better from here: