Unlike previous years This market paying only half the attention to companies with Gold in the ground, many juniors if not 90% of them languishing near their lows. Todays cash is pouring into near or actual producers, investors want results.
One thing that will happen is the spill over effect, as producers share prices climb profit from those trades is moved into the companies that look good for a takeover or some other catalyst that might bring them closer to or into production. Future news from IAU will be very interesting as production (whether JV or not) is what they'll be addressing.