The ultimate resolution of this apparent contradiction between fundamental news and market performance could provide us with important future clues for gold and silver.

...the tax rate for an incorporated, small-scale mine or mining-related business will be reduced from the former 35 percent rate to 21 percent for the 2018 tax year and thereafter.

Given the enormous expenditures that are required to bring any mining property into production, the industry can ill afford a regulatory system which, by reversing already existent approvals, can nullify the value of funds already expended.