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Freddifish

"Even if pog was $1350 and extraction costs were $750 an oz , they woulda me clear profit of $90 million a year"


How about you try extraction costs of $1500 per oz

"There is even a trend among gold miners to actually report all in total costs of production that include byproduct, G&A, exploration, and sustaining capital in the per ounce production costs. That number, by the way, comes in at an average of around $1,500 for the major producers."

For full article:

http://www.321gold.com/editorials/cook_b/cook_b021313.html