The sector is becoming a Value Play 
Notice at each head and sholder there was a short term uptick for the last five years. This is very similar to other gold miners. Each time there was a bottom on a head and shoulder there was a rise in SP. If we manage to hold around 2.00 here we should be good for another short term run. I have a feeling we are going to reach a paradox with the QE. Here’s a theory …
As QE slowly tapers there is a fear that that will hurt GOLD. What will happen if they suddenly relize they have to increase it? The only thing hurting gold right now is the downward pressure from those
American hedge fund paper chase and Goldman Sachs and Co. What we do not understand is what if they ease off on QE and things get worse! Remember, all the average American has done is reset debt, just to start it up again… bullish for gold. As the fear of inflation looms, which is the only reason to reduce QE, the economy will slow. Therefore, it appears that they may never be able to stop QE. It appears that QE is like an addiction. Again, bullish for gold. Even if they manage to stop QE, whatever else they come up with will hurt the greenback – bullish again. What caused the last broader market crash was a combination of oil prices and a small tick up in interest rates. The problem is this takes time. Then there is an eventual shut in of mines at 1000.00, again bullish for gold. As far as I can see the only thing bearish is sentiment caused by the downward thrust and that can last a while... not forever.
So keep some cash handy and buy when you feel good about it. Breaking 2.00 on BTO will mean slightly lower prices from there. That will also bring value.
GWH