lowest cost gold companies, page-13

Agreed , However I would prefer a moderate cost producer with good production leverage, because despite what most think about the price of gold(myself included) it's best to be protected if it moves the other way. A moderate cost producer 500-600 per oz I think is ok but much higher and you risk an oxiana zinifex scenario if the price dives medium term. It would be interesting to see what defines a top quartile low cost producer vs a second a 3 rd quartile.