Gold miners have lived in the basement for two main reasons in 2012  - High cost and very low margins

With many delaying projects and write downs  - with this be the year for lower cost and higher margins for gold miners????

The reality is they have yet to show the markets that they can deliver growth and yeild for investors and until they do they will continue to get low valuations.

We own a few but only mid to juniors in the space with large reserves.