While it´s frustrating to see AUM at these levels its far from being the only PM company selling at super low valuation. Have a look at Great Basin Gold and Orvana for example. These companies currently have two mining operations and increasing their output while trying to improve their productivity so they can become profitable. It will probably take them a couple of quarters to get there if the price of gold stays where it is.

Have a look also at Jaguar, they trade more than $2 below what a Chinese company want to buy them through an all cash transaction.

Those three companies had some issues during the past quarters but still their current price is ridiculously low given their assets and the fact they are ramping up their production. It seems that there are a mix of factors out there which have scared the hell out of the traditional investors in the PM space. A lot of them seems to be burned out after all the continous and repeated attacks on the sector as well as the habit from the decision making of most companies to dilute the existing shareholders everytime something is not going according to their plans.

When is that going to change? no F.. idea.