Major Gold Miners' AISC, page-4

Ive never bought into straight mine supply and all in mine cost being a strong link to supporting the gold price. Gold is not used, most of it ever mine remains above ground and available compared to other commodities. Do not assume gold cannot run much lower purely on NEM and ABX not being able to make a buck and closing mines like other metals, this happens to all commodities at times including gold. Remember the 90s??

Never quote C1 cost by the way, they are rubbish and all listed companies regardless of cash cost will fall in a declining price environment.