Top Fund That Invests In Gold Miners Delivers Midas-Like Returns

• Winmill focuses on gold miners with positive operating leverage and strong fundamentals, avoiding companies with operating losses and political risk zones like West Africa, while favoring stable jurisdictions in Canada, Australia, and Scandinavia
• Top holdings include Agnico Eagle Mines (43-year dividend streak), Lundin Gold (ROE surged from 9% to 55% through operating leverage), DPM Metals in Eastern Europe, and industry leader Newmont
• Winmill predicts gold prices are more likely to reach $6,000 than $4,000, driven by ongoing central bank de-dollarization and U.S. fiscal policy, though he acknowledges bitcoin remains a potential threat to gold's alternative currency status

Summary: Top Gold Mining Fund Delivers Exceptional Returns

Key Performance:

Midas Discovery Fund (MIDSX) posted a remarkable 196% gain in 2025 and 11.5% return through March 2026, capitalizing on surging gold prices. Gold hit a record high above $5,600/ounce in January before settling at $4,700, still up 125% since early 2024.

Market Drivers:

Fund manager Tom Winmill attributes gold's rally to four key factors: geopolitical tensions (Russia/Ukraine, Middle East), de-dollarization by central banks following U.S. sanctions and dollar weaponization, record U.S. debt exceeding $39 trillion, and concerns over dollar devaluation due to ongoing deficits and inflation.

Investment Strategy:

Midas Discovery focuses on profitable gold miners with operating leverage, avoiding companies reporting losses. The fund requires growing revenue, expanding margins, and strong management teams in stable jurisdictions. Key holdings include:

• Agnico Eagle Mines (AEM): 43 consecutive years of dividends, operations in Canada, Mexico, Scandinavia, and Australia
• Lundin Gold (LUGDF): Return on equity surged from 9% (2022) to 55% currently
• DPM Metals (DPMLF): High-quality deposits in Eastern Europe
• Newmont (NEM): Largest Nevada presence, 1% dividend yield

Portfolio Allocation:

Winmill recommends 20% gold allocation for younger investors seeking growth, but only 5% maximum for retirees who need income and likely already own real estate.

Outlook:

Manager predicts gold prices more likely headed to $6,000 than $4,000, citing continued central bank buying and U.S. fiscal concerns, though commodity volatility and bitcoin competition pose risks.