Gold-miners stock rally has just begun

`` Less than two months into the year, gold miners have recouped more than a third of what they lost last year, and the rally may still have a lot more room to run. ... "The gold miners were deeply undervalued in 2013 and remained deeply undervalued," said Malcolm Gissen, co-manager of the Encompass Fund ENCPX -1.29% . "These are companies valued less than their cash and at 50% of [net asset value]...''