looks like will be testing the 1650 mark for quite some time
as long as we cycle 1620 - 1650 most of the producers I hold should still be more than viable
But as you say - nothing ever goes up in a straight line and stays there
So more than ever:
production costs (REAL cash costs) are vital and usually are determined by
- grade
- ease of access
- ease of extraction
- location (determining labour costs, stability, royalties, taxes etc)
and from my experience canonman called it correct more times than I sometimes cared for - LOL
the lesson from 2011/2012: trade the swings
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