The perfect storm is brewing in the mining world and hardly anyone’s paying attention.
Gold prices are hovering near all-time highs, while energy costs remain unusually low. For miners, that’s not just good news - it’s record-margin territory.
Right now, profit spreads are dwarfing historical norms, with some producers clearing nearly double their usual operating cushion. With energy being the single biggest expense in the game, cheap oil and power are practically printing money for them
And here’s the kicker - big institutions barely have metals on their books. If capital rotation pushes even a fraction of their portfolios into gold, the sector could see a massive rerating.
The stage is set
Prices strong
Costs contained
The door is still open but not for long
