$Newmont Expects Gold Output to Rise to 6.2M Oz in 2022 -- Commodity Comment Today 8:08 AM ET (Dow Jones)Print By Robb M. Stewart
$Newmont Corp. is targeting a rise in gold production next year to 6.2 million ounces, growing to as much as 6.8 million ounces annually over a five-year period even as costs are set to fall.
On guidance:
The mining company Thursday forecast production of between six million and 6.6 million ounces in 2023, and between 6.2 million and 6.8 million ounces in each of the following three years. Production of other metals is expected to be 1.3 million gold-equivalent ounces in 2022, it said.
Newmont, which produced 1.45 million ounces of gold in the third quarter, in late October said it expected output for 2021 of six million ounces and affirmed guidance for 1.3 million gold-equivalent ounces of copper, silver, lead and zinc for 2021.
The rise in gold production expected next year reflects growth at the company's Boddington mine in Australia and Ahafo mine in Ghana, while the lift in 2024 through 2026 will mark the inclusion of profitable production from the Ahafo North operation and Tanami Expansion 2 in Australia, as well as reaching higher gold grade at Penasquito in Mexico, it said.
Newmont said costs are expected to improve throughout over a five-year period, in part thanks to investments in profitable projects. Gold cost applicable to sales is expected to be $820 an ounce next year, improving to between $740 and $840 an ounce for 2023 and $700 and $800 an ounce in 2024 through 2026, it said. Gold all-in sustaining costs is expected to be $1,050 an ounce next year, improving to between $980 and $1,080 an ounce in 2023 and $920 to $1,020 an ounce longer-term, it said.
The outlook assumes operations continue without major Covid-19-related interruption, and assumes a revenue gold price of $1,800 an ounce for costs in 2022, Newmont said.
I think you are right and as inflation really kicks in... and notice Mexico is raising interest rates... that is coming ... the game of holding down rates to make cheap buying is a false narrative that many are going to regret... keeping home prices high and higher, so coming to a quick halt at some point as loan rates go up... is going to trigger another 2008 and most likely worse than before. :-))
$Monroe1 Thanks; The last great inflation Posted on January 5, 2022 by Opinion
$The Epoch Times/Milton Ezrati/12-31-2021
graphic image of 1970s reducs coming soon to an economy near you“With inflation in the headlines, a look back at the last experience might offer needed perspective. There is no claim here that history repeats exactly. Rather, a look back offers ways to dispel nonsense and identify what is important.”
Note: Ezrati, an economist, thinks there are some differences between the 1970s and present, but that the overall “picture looks disturbingly like it did last time.”
$Davos Is Making The Central Bank Case For Gold BY TYLER DURDEN - MONDAY, DEC 06, 2021 - 06:30 AM Authored by Tom Luongo via Gold, Goats, 'n Guns blog,
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