Mr Cutifani said gold mining companies were struggling with skyrocketing production costs, which were set to continue rising.
"It costs almost $US1,200 an ounce now to produce an ounce of gold when you take capital and all costs into account," he said.
Is this Ashanti Gold guy for real??..$1200 p/oz in a South African gold mine? Can,t and won,t believe their paying higher labour costs than Australian miners.
Also can,t believe that their OCHS costs are higher!
FML Price at posting:
6.4¢ Sentiment: LT Buy Disclosure: Held
