The Globe and Mail reports in its Wednesday edition that heading into the holidays, eight of the S&P/TSX Composite Index's top-10 performers in 2025 were gold producers, and their gains pushed the index up 27 per cent for the year. The Globe's Tim Kiladze writes, however, the biggest winners might be precious-metals executives. Not only has their stock-based compensation soared in value as the price of gold and silver rose, but many have stock options that flipped from being worthless at the start of the year to looking like pots of gold. For example, Aris Mining shares gained 328 per cent in 2025. Founded with seed money from Neil Woodyer and Frank Giustra, and chaired by Ian Telfer, formerly of Goldcorp, Aris transformed from a junior miner to an established player in 2024. In September the company was added to the S&P/TSX Composite Index. (It is also traded in New York.) Mr. Woodyer, who is 81 and resides in Monaco, held $19-million worth of shares and deferred shares as of March 31, the company disclosed in a regulatory filing (all figures U.S.). That was when Aris's stock traded for $4.64. By late December, Aris shares were $15.65 each, which means Mr. Woodyer's stock holdings alone were worth $65-million.