Just came across this fresh interview with somebody more knowledgeable than me for sure:

 

http://www.mining.com/web/michael-fowler-the-new-strategy-for-adding-value-to-juniormidtier-gold/

 

..including the following quote:

"These [big] companies have to find a way to be more judicious with their capital and to focus more on return on investment rather than go down the ETF route. If they are not growing, they could increase their dividends to the 4% range. That would be of interest to investors.

Quite frankly, I am more interested in companies that grow their reserves and resources, their earnings and cash flow."

 

Could TGZ do both?