Sunday, 24 November 2013

GDX / GDXJ Lows? - Franco Nevada's Assets

Franco Nevada's performance over the past 2 years stands out dramatically from the rest of the PM Market as they deliver on growth. Chairman Pierre Lassonde is widely respected in the industry.

Their "Asset Handbook" is an interesting grand tour around some of the world's major goldmines and the juniors with projects they have found interesting enough to secure royalties.

There is also an interesting divergence, while GDX and GDXJ are testing or breaking the June-13 lows FNV is much stronger since June.

Curiously the same pattern can be seen at the opposite extreme in the small cap Canadian Venture Index which is not, yet,  testing the June lows.

Even more curiously while the GDX and GDXJ are near their 52 week lows many (most?) constituent companies are not. SEE HERE including stock lists (showing % vs 52wk low) and company charts. More accurately my list of component companies dates from earlier this year, are index changes impacting performance so much?
Any thoughts out there?

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