As the late, great Mark Twain would say; the death of Australia's gold miners in 2014 has been greatly exaggerated.
Despite a rocky start to the year shares of some of Australia's leading gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) have rocketed in the past week after a surprising resurgence in the price of gold.
Although margins may be tighter than in previous years, many gold miners are still in reasonable shape and may be at bargain prices. Here are three of the best miners to consider adding to your portfolio today:
Newcrest Mining Limited
Newcrest looks to have finally put the bad news behind it. The gold miner has come to a $1.2 million settlement with the Australian Securities and Investments Commission (ASIC) in regards to the company's ASX announcement of 7 June 2013.
The company also has a fresh management team at the helm and was operating at costs well below the current gold price of US$1,315 in the first three months of the year, with All-In Sustaining Costs (AISC) of $921 per ounce.
Silver Lake Resources Limited (ASX: SLR)
Shares in Silver Lake have surged 51% in June alone from $0.33 to $.50 on the stabilising gold price.
Investors bailed out fast after high production costs forced the company's Murchison Gold Operations into care and maintenance. But with the prospect of higher gold prices Silver Lake could still represent a long-term bargain.
EVOLUTION FPO (ASX: EVO)
Evolution was among the lowest cost gold producers for the three months to March, despite a minor reduction in production due to seasonal weather.
Production is expected to bounce back for the June quarter and combined with the higher gold price the company's share price could be set to jump if this leads to higher earnings for the quarter.
The best gold bet
Of the three companies, Newcrest Mining would be my preferred long-term gold miner, while Silver Lake looks like a better speculative short term play.
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