but the upside potential is brutally high . Dont let the trolls mislead you gold will continue to outperform the Stock Markets like in the past 12 Years .
Gold Mining Costs Rising Fast - 28 June 2012
Letwin, CEO of Iamgold: "It's going to be difficult for anybody to produce gold at less than $1200 an ounce."
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