Interesting news release today from a major Canadian gold producer.
They are attempting to build a large new mine in a tier 1 deposit in Canada .They have 7-10 million ounces .
Production in the 400-500 thousand ounce per year range.
Construction started in 2020 and start of production now put back to 2024 due to Covid,supply chain issues and a variety of other problems.The mine/mill is about 50% complete and yet still wont be producing for a couple of years.
Costs have escalated from around a billion dollars to 2 billion dollars Canadian during the construction phase .
Interestingly they are not attempting to drill additional holes while they focus on trying to get the mine done.
The Cote gold mine is being brought on stream by a major Canadian producer with significant cash flow .
There are multiple other smaller mines in Canada attempting to get into production and the majority are having difficulties especially those with no cash flow.
The quarterly results of a lot of major gold producers are not very good this year due to decline in the POG and huge cost pressures.
I think that very few new mines are going to be successfully built anywhere in the world due to all these issues.
- Forums
- ASX - By Stock
- DEG
- Ann: Major gold intersection 200m below Diucon
Ann: Major gold intersection 200m below Diucon, page-37
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add DEG (ASX) to my watchlist
|
|||||
Last
$1.14 |
Change
0.045(4.11%) |
Mkt cap ! $2.732B |
Open | High | Low | Value | Volume |
$1.13 | $1.15 | $1.13 | $4.272M | 3.749M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 9142 | $1.14 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.15 | 11394 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5263 | 1.140 |
1 | 20000 | 1.135 |
1 | 10312 | 1.125 |
2 | 11209 | 1.120 |
2 | 15312 | 1.115 |
Price($) | Vol. | No. |
---|---|---|
1.150 | 44522 | 4 |
1.155 | 82789 | 3 |
1.160 | 11312 | 2 |
1.165 | 52789 | 3 |
1.170 | 10935 | 2 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
Featured News
DEG (ASX) Chart |