AUL 0.00% 28.5¢ austar gold limited

Ann: Annual Report to shareholders-MNM.AX, page-15

  1. 521 Posts.
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    In very round figures...

    The Basic Wage in 1960 was 13 pounds and 16 shillings for 40 hours.
    Say $28 ? So about 70 cents per hour.

    So the lowest paid worker needed to do 50 hours for 1 oz of gold.
    (Assuming that the USD and the Australia dollar (to be in 1966) were at parity.)

    The lowest paid worker in 2016 gets $17.70 per hour so he/she needs to put in 100 hours
    ...so about double... to get 1 oz of gold.

    Now I know that these figures are, at best, "around about."
    But they give some clue to the relative strength of wages to the gold price.

    I would be very happy for someone to get the figures to a more precise number.
 
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