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Disliked{quote} this means that if gold is exchanged say at 1000 all gold mining companies would be out of business and shut down.Ignored
Disliked{quote} You answered your own question: They are shorter-life, higher-cost assets. I have Barrick stock and none of these sales affected the stock price negatively so I'd say the market thought the sales made sense. You'd have to look at the specifics to know if they were including inferred resources in the estimates which are meaningless. I only look at demonstrated reserves when doing a valuation for a mining stock. Comparatively, when a retailer stops carrying lower-margin higher-cost goods it's generally considered beneficial to the company....Ignored
Disliked{quote} i don't know the exact reasons without reading their history and balance sheet, but this is the general situation in Gold mining: The cost of extracting Gold (production costs) are higher than ever. Sometimes Gold mines even run at a loss in the hope that the Gold price will appreciate in the near future. Whereas some forms of mining (e.g. platinum, zinc, etc) are enjoying lower production costs as a result of mechanization, Gold requires a manual extraction process: teams of miners have to physically go to the gold seams - by now several...Ignored
Disliked{quote} i dont' know, but i guess they would run (at a loss) and on cash reserves until the price appreciates. Also, I imagine Gold would not stay at $1000/oz for very long since there is a lot of demand and the rush buying would push it up quickly. If I was CEO of a major mining company I would use the leverage and power to ensure the Gold price didn't stay below my BE - by having "meetings" with people at Comex and the central banksIgnored
Disliked{quote} The cost of extracting Gold (production costs) are higher than ever... Has it changed/developed much from say 2000 ? And value of gold decreased almost $700 in 6 months and demand is still rising when we are coming through a period of recession.Ignored
QuoteDislikedHas it changed/developed much from say 2000 ?
DislikedLooks like daily 61.8 1298 is holding so I guess next trip is monthly 38.2 1335 !!! {image}Ignored
Disliked{quote} barrick merges with homestake in 2001 and acquires those 3 mines starts operating in 2008 and selling in now.. match the timeline with gold chart, reasons for them selling and my post should be the sameIgnored
Disliked... As for physical Gold, I'm not really interested - in the Mad Max future everyone is scaremongering, I reckon a mango (and water) will be worth more than any Gold coin - ok not more - but i won't take a Gold coin as currency - how do i know it's real?Ignored
Disliked{quote} I agree, and I'm not sure those who stockpile gold because they believe the FIAT system will fail have really thought it all the way through. Gold and silver only have value so long as currency has value. In a global financial collapse scenario precious metals will be relatively worthless; however, they do make sense in the case of a single currency collapse where the rest of the world is still financially standing.Ignored
Disliked{quote} if the candle closes below 1296, we might be heading towards 1260 or lower, breach of a raising trend line on 4H Placed a sell limit order for 1295, SL 1310, TP 1265...Ignored
Disliked{quote} I agree, and I'm not sure those who stockpile gold because they believe the FIAT system will fail have really thought it all the way through. Gold and silver only have value so long as currency has value. In a global financial collapse scenario precious metals will be relatively worthless; however, they do make sense in the case of a single currency collapse where the rest of the world is still financially standing.Ignored