The ability to make a bottom line profit is the most basic principle of business, but it is exasperating to see how few junior gold producers can manage it on a consistent basis. Coming up to July 2011, B2Gold’s made money in each of the previous four quarters, for a cumulative tally of $64.6-million. The corresponding figures for San Gold were losses in every quarter, putting it into the red by $23.2-million. Over the next five quarters ending Sept. 30, 2012, San Gold squeaked out a small profit twice, but still lost another $5.1-million over the period. B2Gold went five for five, racking up $85.3-million. Net income a predictor of future viability? Who'da thunk it?

-The Contra Guys