All times are UTC + 8 hours




Post new topic Reply to topic  [ 20 posts ]  Go to page Previous  1, 2
Author Message
PostPosted: Jul 6th, '13, 15:40 
Offline
Almost divorced
Almost divorced

Joined: May 30th, '11, 16:27
Posts: 1109
Gender: Male
Are you human?: yes
Location: Baldivis WA
Wages sky rocketed.
Admin costs are higher due to safety standards etc.
But in reality, the high price of gold made more mines feasible as they could operate in areas with lower percentages.
The drop in the gold price is based on speculation of the US economy.
Less efficient mines and smaller companies will shut down, people will lose jobs in the bigger companies, supply of gold will drop, demand will start to increase, price will start to rise again.

It is going to be a scary next ~3 years though...


Top
 Profile  
Reply with quote  
    Advertisement
 
PostPosted: Jul 6th, '13, 16:04 
Offline
A posting God
A posting God
User avatar

Joined: Dec 10th, '11, 15:03
Posts: 2089
Gender: Male
Are you human?: What is human?
Location: Perth Hills
Yeah the Barack mine my mate is at has been marginal for years. Just the price of gold going up kept it feasible. Safety has become such a massive cost too. Heaven forbid people use common sense....

Sent from my GT-I9300 using Tapatalk 4 Beta

_________________
Aquarium System
IBC System
Blog


Top
 Profile  
Reply with quote  
PostPosted: Jul 6th, '13, 17:11 
Offline
Moderator
Moderator
User avatar

Joined: May 6th, '11, 12:06
Posts: 12194
Gender: Male
Location: Northern NSW
I agree Rupe..it wasn't too long ago when gold was $400/oz and companies were making money then. I think what's happened is when the boom developed companies were a lot about growth and massive overheads came with it....and now that the price is dropping off the overheads need to be slashed. Our first cut was our entire exploration division, this alone takes down a lot of supporting businesses like drill consumables and maintenance etc. and this is what happens with all cuts, it's like a domino effect. Our mines are relatively low grade so we made a buck by moving a lot of dirt as do the likes of Riotinto and BHP.

Barrick has deep pockets and our mother ship is in Nevada and the company is by no means in trouble, it's just our Aussie mines that just aren't feasible anymore.

_________________
~2010/2011~
~2012/2013~
~2014~
~Backyard farming~


Top
 Profile  
Reply with quote  
PostPosted: Jul 8th, '13, 14:09 
Offline
Moderator
Moderator
User avatar

Joined: Jun 26th, '10, 20:46
Posts: 2937
Images: 51
Gender: Male
Are you human?: Nope! I'm a machine.
Location: Dowerin, WA
What about this place Charlie? Ideal fishing, an orchard, wild deer.....

http://www.news.com.au/realestate/selli ... 6675877166

_________________
ArBe
My Home System
My Country Backyard


Top
 Profile Personal album  
Reply with quote  
PostPosted: Jul 8th, '13, 14:23 
Offline
Moderator
Moderator
User avatar

Joined: May 6th, '11, 12:06
Posts: 12194
Gender: Male
Location: Northern NSW
Looks a bit cheap to me Arbe..



:)

_________________
~2010/2011~
~2012/2013~
~2014~
~Backyard farming~


Top
 Profile  
Reply with quote  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 20 posts ]  Go to page Previous  1, 2

All times are UTC + 8 hours


Who is online

Users browsing this forum: MSN [Bot] and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  

Powered by phpBB® Forum Software © phpBB Group
Portal by phpBB3 Portal © phpBB Türkiye
[ Time : 0.086s | 17 Queries | GZIP : Off ]