Among the gold mining sector are the explorers, the producers, and the royalty companies, with each offering different risk profiles. The explorers are the highest-risk with regular capital raises and no guarantees that they'll build a mine; the producers are medium-risk, with risk dependent on diversification and margins; and the royalty companies are the lowest-risk but offer the least reward. The sweet spot in most cases for returns relative to risk are the producers, given that the royalty companies rarely trade at a discount, even if they do offer safety. In this update, we'll look at Newmont (NEM), Kirkland Lake Gold (KL), and Orla Mining (ORLA), two producers that are best in breed, and one explorer fully financed to graduate to the producer ranks in December.Read full news