Mark Mahaffey: Why gold production is going to go to zero
Submitted by cpowell on Wed, 2013-10-16 20:54. Section: Daily Dispatches
7:53a AEST Thursday, October 17, 2013
Dear Friend of GATA and Gold:
Without much higher gold prices the gold mining industry is dead, Hinde Capital co-founder and Chief Financial Officer Mark Mahaffey writes this week, noting that the shares of many gold mining companies are down as much as 90 percent because the cost of production is higher than the metal's declining price.