Replies to post #20446 on iShares Silver Trust (SLV)

[EarlyOne]

I believe that gold is also produced for much less than the current spot price too.

And if I am not mistaken, most oil is produced for much less than the spot price too, especially in Saudi Arabia.

[clownsj]

I guess we can compare mining silver for under 50 cents an oz to growing heroin for under 50 cents an oz. It has nothing to do with street price.

[JohnCM]

Smoke and mirrors. Similiar to simply stating gold equivilent ounces but a bit different. Miners have by-product that is mined for under zero dollars per ounce.

[thesource]

2001 gasoline was under $1.50 a gallon and diesel was under a $1.00 a gallon. Just the cost of fuel alone should increase the mining cost 4 fold from 2001.