Klondex blazes ahead, undeterred by low gold prices

Klondex Mines (TSX: KDX; OTCQX: KLNDF) has been another stellar gold performer in the current bear market, with its share price steadily rising since the end of 2012.

The company, which operates the Fire Creek gold mine and the Midas gold-silver mine and mill in Nevada, saw its share price slide to a multi-year low of 31¢ in October 2008, before peaking at an all-time high of $3.87 in February 2011 and then tumbling to finish 2012 at $1.25.

Since then, Klondex shares have picked up momentum, despite the downturn in the gold market. Klondex gained 29% in 2013, 21% in 2014, and soared 74% during the first half of 2015 to end June at $3.40 per share. The stock finished Aug. 12 at $3.49, appreciating 179% since exiting 2012.

That’s not bad considering over the same time the spot gold price has retreated 32% to US$1,125.50 per oz from US$1,664.

Read the complete article at NorthernMiner.com/news/klondex