Organic/brownfields growth remains the least
expensive form of growth confronting tier 1-2 producers. The majors face
the greatest burden- replacing 3-8M.ozs/yr.
Their exploration, j/v & operations expansion is in high gear even as cost
inputs for diesel, labour, steel, tires etc. have skyrocketed..;
Only a large increase in operating margins backed by $800+ gold has
saved producers from an average now of $350-$400/oz.production costs...
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