Why does the gold industry not build new mines ?

There is reason gold is going up every day! Because the industry has not built any new gold mines for 10 years and now even if they get the money it will take 5 years to permit, fund and built. They have been starved of capital as is investors shunned the industry and went for Apple shares, lithium and Bitcoin.

here is an example of an old mine restarting in next 2 months that was Beadell Resources back in the day. I think this is the only way to get a new mine producing anytime soon. it is trading on a PE of < 1 for 2025. See management update.

http://eepurl.com/iXtx-g

but important to debate this on the gold forum because supply of physical or lack of is the real reason gold goes up and up.

you know it’s a bull market when even hot copper has no subject called gold as a forum thread. They have lithium coal and iron ore but no gold. Yikes!!

thoughts welcome.