Yeah ... I'm agreeing with you Loki. Even the goldies that are doing well in increasing output are really struggling to make good profits. Imagine if EVR didn't break production records !
The reporting season has been universally disappointing with a whole swag of companies that I follow disappointing the market (and me!!).
I think it is really clear that producing mines with legacy operations need a much higher POG to generate sustainably high profits ($1,400 - $1,500)+. I am also concerned longer term that with some of the high grading that is going on will reduce LOMs.
Chuk (on BSR) thread had an interesting comment that he is focusing on companies developing assets in the current environment that will be profitable at the current POG or lower vs the producers.
Cheers
John
EVR Price at posting:
94.0¢ Sentiment: None Disclosure: Held
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