Thanks for posting that Baires. I was aware of that and that is the first of a two step progression explaining why I think that a breakout in the big producers will presage the little guys popping. In mature PM bull markets, first POG runs, then the senior miners, then the juniors/explorers. That's what happened 1978 - 1980.

Why is this? Well think about it. In order for the juniors to take off, there has to first be a significant participation by non-goldbug investors (the vast majority of investors at this stage) in the mining space. That is about to happen now that the miners' earnings are stellar and improving and dividends are increasing significantly at a time when the market is starved for income. Just as when investors stick their toe in the water in the stock market during a general equity bull market, they go with the big names first, get rewarded, and then get somewhat more greedy and they purchase smaller companies in the hope of hitting home runs. As people get into the HUI/GDX type of investments and make a lot of money - which I think they will going forward - they'll look for smaller miners to leverage their profits. It will not take much interest (spell that VOLUME) to pop our stock.

Strike