Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (45536)	7/11/2013 7:29:02 AM
From: Wade	Read Replies (1) of 48092

Silver, AG Here is another one from interview with Keith: forbes.com Morgan and Neumeyer don’t believe in that kind of metric. “It’s a pet-peeve of mine, referring to silver production costs as all-in sustaining costs,” Morgan said. Neumeyer concurred. “The all-in sustaining cash costs is an insignificant number, it’s not reality. I don’t believe that expansion and capital should be used in calculating all-in cash costs because expansionary capital is expansionary capital. If we make an investment of $15 million in a mill or we want to drive a five-kilometer tunnel to go into a new ore body, or something like that, that element would be capitalized over the life of that ore body, which may be 10 or 20 years; why would you include that investment in your all-in cash costs? It doesn’t make sense,” he said.

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