What is the current lie regarding the cost to mine an ounce of gold?

MsMorrisine

a number of years ago, I heard it was in the 900's or so.

thefinn

Why do you assume it's a lie? Is the cost of mining a Bitcoin a lie too?

MsMorrisine

we're asking the miners whose interest lies with higher mining prices (and if they are really lower, then they make more)

bitcoin miners may lie to make it seem harder for newcomers to mine.

MsMorrisine

https://www.fool.com/investing/2017/04/21/3-gold-stocks-with-the-lowest-all-in-sustaining-co.aspx

Sean Williams
(TMFUltraLong)
Apr 21, 2017 at 9:37AM

We're going to exclude royalty and streaming companies such as Royal Gold and Franco-Nevada for the purposes of making an apples-to-apples comparison, as well as remove any large gold miners that report only on a cash cost and not AISC basis, such as Randgold Resources.

Barrick Gold (NYSE:ABX): $745 an ounce. 
Newmont Mining: $970 an ounce. 
Goldcorp (NYSE:GG): $850 an ounce.
Agnico Eagle Mines: $875 an ounce.  
AngoGold Ashanti: $1,075 an ounce.
Kinross Gold: $975 an ounce. 
Gold Fields: $1,020 an ounce.
Yamana Gold: $900 an ounce.
B2Gold: $955 an ounce.
Eldorado Gold (NYSE:EGO): $860 an ounce.

(my note: AISC does leave out some important things like taxes :P )

Timbuk3

Interesting !!!

jmski52

The cost to mine is only part of the cost structure. There's a cost even if no mining occurs. And there's a cost for refining as well. Each company has a different mix of assets with different prospects for the future, and I'd be quite surprised if every one of them doesn't keep those details close to the vest. Unless you are actually involved in the operations and finance of an ongoing concern, it's going to be hard to evaluate how things should shake out.

ricko

With those costs, and not knowing what they include, they are approaching market value.... so likely the costs are padded....JMO... Cheers, RickO