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SPDR Gold Trust Message Board

  • biotechaae biotechaae Feb 25, 2013 1:41 PM Flag

    Letwin, CEO of Iamgold: "It's going to be difficult for anybody to produce gold at less than $1200 an ounce."

    Paid trolls lying about the mining cost ..
    ....
    Gold Mining Costs Rising Fast - 28 June 2012

    Mark Cutifani, CEO of AngloGold Ashanti: "If you want to go on a total cost basis, we're running at about $1200. The industry average is probably around $1250 an ounce."

    Steve Letwin, CEO of Iamgold: "It's going to be difficult for anybody to produce gold at less than $1200 an ounce."

    The costs have risen significantly over the past six months because companies have to dig deeper to find high-grade gold deposits. In many cases, that means digging more than one mile into the ground. In addition, costs associated with almost everything I mentioned above have moved higher over the past year.

    Sentiment: Strong Sell

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