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OUTCROP
Gold miners at the cost crossroads
DILUTION, subpar return on equity, a capex drought last decade, margin erosion, poor allocation of capital — all these have had a serious impact on gold company valuations.
Anyway, that's the view from Toronto-based Sprott Asset Management. In "Gold vs Gold Stocks, an Unresolved Incongruity", senior partner John Hathaway and managing partner Shree Kargutkar, try to explain...
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