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Commodities Briefing - Categorized | Bullion/Gold, Financial, Metals and Minerals more

1/3 of global gold mines have pre-tax costs of $1,250 to $1,750—Tumazos

Posted on 18 April 2013

A survey by of 49 publicly traded companies accounting for 60% of world gold output, which was conducted by New Jersey’s John Tumazos Very Independent Research, estimates that one-third of gold mines have pretax costs of $1,250 to $1,750 per ounce.
“The selloff from $1,900 in September 2011 to nearly $1,350 on April 15th places prices squarely within the costs of the highest one-third of mines,” wrote long-time gold analyst John Tumazos…………………………………Full Article: Source


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