In 2007.. the cash cost to produce Gold is $375.00
Cash Cost Basis is not the final production cost.. newbies likes to focus on cash cost
In 2009 .. the cash cost for gold is $465.00
In 2010.. the cash cost is $540.00
In 2012.. the cash cost for gold is $750.00+ and the TOTAL COST ON AVERAGE is $1250.00+
In 2013.. expect the cash cost to hit $870.00 and the TOTAL COST OF GOLD TO BALLOON to $1400-$1500 oz
Mark Cutifani, CEO of AngloGold Ashanti: "If you want to go on a total cost basis, we're running at about $1,200. The industry average is probably around $1,250 an ounce."
Steve Letwin, CEO of Iamgold: "It's going to be difficult for anybody to produce gold at less than $1,200 an ounce."
Barrick CEO sees the total cost to rise tremendously in the coming years
TOTAL COST BASIS in 2013.. will run to $1400-$1500 oz