Ok JoeKing2, gold is up in OZ$, but a lot of costs are in US$ terms, like diesal, hence the rise in OZ dollars does not comphensate.
It applies to all mining companies. Some are changing to different energy forms.
Inflation is a killer!
Extract from Westgold to show the issue.
(Westgold Managing Director Wayne Bramwell said:“During financial year 2022 (FY22) industry cost pressures reached an all-time high. In comparing costs in H1 FY23 to costs in H1 FY22, Westgold saw the price of diesel rise by 82% and material price increases in ground support, explosives, flights, accommodation, and food. These factors drove a 17% cost increase across these two periods)
Ann: King of the Hills set for stronger March Quarter, page-74
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