How much an index works for a sector with constant birth and death of junior companies, which when successful move up to the senior exchanges, I am unclear.
For what it's worth the maximum history on Marketwatch goes back to 1992 and shows the first peak after Bre-X's run up and subsequent collapse in 1997.
A film about Bre-X - Part1 Part2 Part3
Articles HERE HERE HERE
The real peak in the index price was as gold rose above $700 in May 2006 - 7 years ago.
However volume peaked at the end on 2010 after the bounce back from the Global financial crisis and the reflationary response in QE programmes and the suspension of mark to market bank balance sheet accounting.
Since then it has been downhill.
900 looks like support dating back to 2000 - 2002 at the beginning of the gold bull market.
Utter revulsion post Bre-X and utter fear at the end of 2008 took the index down to 6-700.
The venture has actually held above the June 2013 lows unlike the GDX or GDXJ and has traded in a narrow range for most of 2013. Post Bre-X saw almost 2 years of basing, a sudden doubling in 2000 then 4 years consolidation, then a 3 year rocket ride.
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