And mining inflation is only going to push that average C3 cost higher over the next few years as deposits get deeper, more intricate and of a lower grade. Some are predicting a 30% rise in C3 costs over the next 3 years which would be in line with the current gold mining cost inflation rate of ~8-10%. What's more, the POG has never traded below the global average C3 cost of production in its 39 years of floated trading.
