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Latest mining costs for gold

derrybderryb Posts: 36,824 ✭✭✭✭✭
in Precious Metals
Full Quarterly All-In Costs

"Barrick Gold (ABX) (costs just under $1300), Goldcorp (GG) (costs over $1250), Yamana Gold (AUY) (costs over $1300), Newmont Gold (NEM) (costs over $1600), Eldorado Gold (EGO) (costs under $1100), Goldfields (GFI) (costs over $1500), Allied Nevada Gold (costs over $1300), Alamos Gold (AGI) (costs under $1250), Kinross Gold (KGC) (costs over $1500), Randgold (GOLD) (costs over $1000), IAMGOLD (IAG) (costs over $1300), and Richmont Gold (RIC) (costs over $1300), Silvercrest Mines (SVM) (costs over $1000), and Agnico-Eagle (AEM) (costs over $1400)"

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I read on here that all of Wall St. is corrupt and no companies tell the truth.... but of course we believe these numbers because they support our thesis?

    We'll go ahead and assume the "all-in" costs to mine the gold are the fully burdened expenses, including writing off"exploration" of the various Nevada western Nevada, um... establishments? image

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,824 ✭✭✭✭✭
    We believe what we believe. Some even attempt to dispel the beliefs of others to convince themselves their beliefs are not inferior.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,137 ✭✭✭✭✭
    The best cure for high prices is high prices.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Interesting article... with those costs and the current price of gold, I would say that the near future should see some significant movement.. we shall see... Cheers, RickO
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I read on here that all of Wall St. is corrupt and no companies tell the truth.... but of course we believe these numbers because they support our thesis?
    We'll go ahead and assume the "all-in" costs to mine the gold are the fully burdened expenses, including writing off "exploration" of the various Nevada western Nevada, um... establishments? image >>



    Interesting change of view. The bandwagon was long back when reporterd "cash costs" in the range of $500-$800/oz were reported by the forum bears as the true cost of mining...and that the senior gold miners were making money hand over fist. I said that was BS a couple years ago. And lo and behold...it was. "Cash costs" supported the old thesis when it was convenient. But, now "self-sustaining, all-in costs" do not. Gotta love the shift.

    If anything, the miners are probably still holding a few things back in their costs. But with share prices so decimated, and $$BILLIONS in write-offs already taken in 2013 it doesn't make sense for them to hold anything back. Take every hit possible this year while no one cares and bearish sentiment is at 10-12 year lows. Bottom line is that most of the seniors are making some money at $1300-$1350 gold....but not much. It does set up the environment though to pick up juniors and explorers for basically "free."

    Nice work by derryb to pool all that info together and post it for us. image

    And fwiw.....I'd agree with Bailey that most large Wall Street firms are basically corrupt and lie on their quarterly reports. But it's an accepted practice where stretching reality is the standard. First time I discussed EBITDA with my comptroller/business manager back in 2003 I knew SarbOx was a joke and that EBITDA was just another way to pad the quarterly reports.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,824 ✭✭✭✭✭


    << <i>Nice work by derryb to pool all that info together and post it for us. >>


    No effort on my part, taken right from the link. That's why it's in quotes.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • VanHalenVanHalen Posts: 3,993 ✭✭✭✭✭


    << <i>We believe what we believe. Some even attempt to dispel the beliefs of others to convince themselves their beliefs are not inferior. >>



    I don't believe anyone's beliefs are inferior. Everybody is entitled to believe as they wish.

    Some might read my comments and think I'm nuts. Maybe I am but I've also spent many years working in management and engineering for Fortune 500 companies, have 7 years of university education, and have spent significant portions of my life in the top 20% AND the bottom 20%. Such is life and many of feel we have a unique perspective.

    Fact is we're all a little bit crazy and the world wouldn't be sane without us. image
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Lol yep when stock price goes up costs go down,
    When stock down, costs way up... Lol

    Ricko,
    Interesting theory u have but as thoughit seems logical,
    It's flawed...

    My theory is since 70% of silver production is by product mining,
    And Silver Wheaton reported all in silver costs at like $4.73...
    There is no reason to buy any silver over $5...
    keceph `anah
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