Wednesday, October 28, 2015 8:59:19 PM
"Gold miners’ $1200-cost fallacy"
In it he looked at the miners on the GDX and built tables showing both cash costs for mining and the all in costs. For the cash costs he found that they were "averaging just $649 and $620 in Q2’15 for the actual gold miners among GDX’s top 17 and next 17 component companies!".
And regarding the average AISC he said "industry-wide all-in sustaining costs per ounce were far below that $1200 threshold. GDX’s top 17 component gold miners had average AISCs of $936, while the next 17 looked even better averaging $857."
He also noted that the companies conservatively project their future AISC in order to not disappoint.
CMI has begun to meet that kind of an average for cash costs and they project an AISC at about $1050 which I suspect is likely to be conservative. Looks like this is going to be a pretty harsh fourth quarter but it does look positive for next year.
I realize that startup miners usually, or at least often, do take more than five years to become profitable but I am really tired of saying maybe next year. Still the company has delivered on cash costs and after this round of exploration is completed I do think the AISC could be well below a thousand dollars.
Recent LODE News
- Comstock Metals Secures Multiple New Revenue Contracts • GlobeNewswire Inc. • 09/10/2024 10:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 05:01:23 PM
- Comstock Metals Records First Renewable Metal Shipments and Sales • GlobeNewswire Inc. • 08/20/2024 10:00:00 AM
- Comstock Validates Record Renewable Fuel Yields • GlobeNewswire Inc. • 08/15/2024 12:33:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 09:05:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:30:45 PM
- Comstock Announces Second Quarter 2024 Results and Corporate Updates • GlobeNewswire Inc. • 08/08/2024 08:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:02:15 PM
- Comstock Secures $325 Million Term Sheet for Investments and Real Estate Sales • GlobeNewswire Inc. • 08/08/2024 01:15:00 PM
- Comstock Inc. to Host Q2 Earnings Call on August 8, 2024, at 4:30pm ET • GlobeNewswire Inc. • 07/25/2024 08:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/19/2024 10:15:23 AM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 07/19/2024 10:05:29 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/19/2024 10:01:58 AM
- Comstock Terminates Equity Purchase Agreement with New $2.5 Million Investment • GlobeNewswire Inc. • 07/19/2024 10:00:00 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/18/2024 08:21:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/17/2024 08:16:26 PM
- Comstock Inc. Publishes its 2Q24 Stakeholder Perception Analysis Report • GlobeNewswire Inc. • 07/17/2024 10:00:00 AM
- Comstock Metals Secures First Industry-Scale Facility for Recycling Expansion • GlobeNewswire Inc. • 07/15/2024 10:00:00 AM
- Comstock Metals Receives County Operating and Storage Permit for Recycling Expansion • GlobeNewswire Inc. • 06/24/2024 10:00:00 AM
- Comstock Participates in Ribbon-Cutting of Green Li-ion’s New Commercial Scale Facility • GlobeNewswire Inc. • 06/19/2024 10:00:00 AM
- Comstock Shareholder Update • GlobeNewswire Inc. • 06/18/2024 11:44:19 AM
- Comstock Expanding Partnership with RenFuel • GlobeNewswire Inc. • 06/10/2024 10:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/31/2024 08:45:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/28/2024 10:22:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/20/2024 08:19:56 PM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM
Element79 Gold Corp Announces 2024 Clover Work Plans & Nevada Portfolio Updates • ELMGF • Sep 10, 2024 11:00 AM
Nightfood Holdings Inc. Completes Major Step on Uplist Journey by Closing Strategic All-Stock Acquisition of CarryoutSupplies.com • NGTF • Sep 10, 2024 8:15 AM
Element79 Gold Corp. Announces Sale of 100% Interest in Elder Creek, North Mill Creek, and Elephant Projects to 1472886 B.C. Ltd. • ELEM • Sep 9, 2024 9:34 AM