US$1000/oz? Wow. Tweetie bird, i hope he is right, because the cost structure at the mines has blown out amazingly. Its really hard to see how a remote mine can profitably mine lower grade gold ores, especially if there are no copper or other metal co-product or by-product credits. What do i mean by lower grades? Unless you process a million tonnes or more a year i think its probably 3g/ tonne as break even for a lot of guys. Hope i'm wrong, but a pal of mine was at that Diggers and Dealers do in Kalgoorlie, and thats the message he relayed. Gulp.
I see Perseverance Corp's MD resigned today. Mine suffered delays, capital blow outs, lower grades, some rain. Sound familiar? Do heads roll at TAM?
Observations only, never investment advice. Keeping an eye out, as a former shareholder.
TAM Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
