There haven't been many bright spots among the wreckage of junior or mid-tier gold miners recently. However, one bright spot has been a name which we have followed for the better part of the last year, Endeavour Mining:

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EDV.TO_Daily_5.29.2014

After a blistering start to the year EDV has retraced roughly half of its gains and recently found support near the rising 200-day simple moving average.

EDV's recent outperformance relative to gold is a strong indication that the market is pleased with EDV management's ability to deliver on production & reserve growth while maintaining a very effective cost structure. Should the gold price rebound over the coming year EDV is certain to be on a short list of mid-tier acquisition targets for the major gold miners.

See also: Endeavour Mining Investor Presentation May 14, 2014