Was listening to Dianmin Chen, the new CEO of Norton Gold Fields. He has increased production this year and is on track for much of the same in 2014, whilst at the same time significantly decreasing total production costs to 970 Australian dollars an ounce, since the Chinese takeover.
970 AUSTRALIAN DOLLARS production costs!
Australians have been mining gold for years so why are they so hopeless at keeping costs within sustainable profitable parameters as soon as the pog catches them floundering?
It suggests to me that a huge wake up call is long overdue for a large percentage of Australian run mining companies, and less bellyaching about Government and other outside forces causing "impossible hardship" in turning a profitable buck in the industry would not go amiss.
STOP looking for excuses and START finding solutions. That is what the ridiculous salaries you pay yourselves are supposed to be for.
Do your job and find a way like the Chinese do, instead of backslapping poor decision making and high fiving mediocrity.
FML Price at posting:
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