It doesn't make sense to SELL gold at these prices if you don't...

It doesn't make sense to SELL gold at these prices if you don't need to, it makes plenty of sense to produce in anticipation of future higher prices.

A gold company should always aim to over produce, if they believe the gold price is too low then store gold in a vault not in the ground. You can't sell gold that hasn't been mined yet.

See RND and TBR gold holdings at Perth mint, they've been stockpiling gold for years.

Cheers
Ivan