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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (56202)	7/13/2000 5:59:32 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 116815

E, the $350/oz. are the average cost for the industry to replace an ounce of gold that has been mined. this includes exploration, drilling to delineate an ore body once it is found, capex to establish the new mine, and the costs of production subsequently. of course sometimes deposits are found that have very low production costs due to either high grades, or easy access, but i'm referring to the industry average. almost every gold producer has one or two crown jewels and/or a very promising development somewhere. it would be great imo if as a result of the ongoing consolidation more marginal (and currently unprofitable) mines were mothballed...the producers would save money , and would reduce global supply at the same time. but like i said before, these guys are obviously dense in many respects. who cares about market share, or the number of oz. produced...in the end its the profits that count. PS: nowadays most miners must add the negative mark-to-market value of their hedge books as well to figure out what running their business costs them...