Donnerstag, 14. Februar 2013

Stifel Nicolaus Analyst: Reale all-in Kosten der größten Goldproduzenten bei 1.784 USD/Oz in 2012

Die aktuellen Ausführungen von George Topping, Analyst beim einflussreichen US-Finanzdienstleister Stifel, Nicolaus & Company, kommen der Wahrheit schon sehr nahe. Lesenswerte Statements, auf welche die Financial Post eingeht:

‘All-in’ cash costs don’t go far enough
Peter Koven | Feb 7, 2013 10:45 AM ET | Last Updated: Feb 7, 2013 11:07 AM ET
Investors and analysts have long complained that the “cash costs” reported by senior gold miners do not reflect the real cost that goes into producing an ounce of gold. The miners have finally done something about it, introducing an “all-in” cost measure that includes sustaining capital, general and administrative expenses, and exploration expenses..
If these additional costs are included, then the true cost of gold production appears to be ridiculously high. According to Mr. Topping, the real average cash cost for the four North American seniors (Barrick, Newmont, Goldcorp Inc. and Kinross Gold Corp.) was an astounding US$ 1,784 an ounce in 2012! And he thinks it will be even higher this year: US$1,796 an ounce. The implication is that these companies are really struggling to generate free cash flow..

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