I tried to cover the mineral drilling sector on Seeking Alpha website. In vain. Either my articles were extremely boring or nobody was interested in this sector.
Whatever the reason, since the beginning of 2016 (the start of this bull market phase in gold) this sector has been performing much better than the precious metals sector. Look at the chart below:
The chart shows the so-called DRILL index. This index was invented by the author of this blog and tracks the share price action of the following drilling companies: Geodrill, Orbit Garant, Energold, Major Drilling and Capital Drilling.
As the chart shows, most recently the DRILL index made a new top (point A). On the other hand, the broad precious metals stock market (GDX) is now (point B) much below the last top (established in August 2016). In other words, during this gold bull market phase DRILL has been performing much better than GDX.
The forgotten but very decent sector...