interesting

Hey am having probs with the web page again!
No new posts and old post disappearing from the top

Anyway here is a snippet from an article I was reading in Kitco

"The declining mined and mineable gold grade is a direct result of the industry’s inability to discover new high grade/high margin deposits. This lack of discovery has required companies to go after the lower grade/lower margin material around their current mines, using the increasing gold price to “find” the new ore. In fact, the Metals Economic Group estimates that the 99 significant discoveries (defined as greater than 2 mil oz) found between 1997 and 2011 could replace only 56% of the gold mined during that same period. Further, these discoveries only account for 18% of the reserves and resources in the current producing and development stage projects, again demonstrating the dearth of new deposits.

This can’t go on forever, and how the gap between current mine production of ~83 million ounces and the rapidly declining discovered economic ounces plays out is going to be really interesting and profitable to those of us in the discovery game."

Cheers to all