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)
Ok JoeKing2, gold is up in OZ$, but a lot of costs are in US$...
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Last
43.0¢ |
Change
0.005(1.18%) |
Mkt cap ! $1.489B | |||
| Open | High | Low | Value | Volume |
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| Last trade - 16.10pm 04/06/2024 (20 minute delay) ? |
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Last
42.5¢ |
Change
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| Open | High | Low | Volume | ||
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| Last updated 15.59pm 04/06/2024 ? | |||||
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