Eric just keeps on buyingPerhaps the only example in the gold investing world in which asingle shareholder is the buyback agent ..but of course the shares are not cancelled.
Think of Kirkland Lake and Agnico.
Just look at Detour Lake the pits with a grade of 0.8 grams per ton or Malarctic pit with a grade of 0.90 grams per ton.
Ignore cash costs, AISC but look closely at TPC....Total Production Costs beyond which all remaining cash flow is free straight to the bottom line.
Consider that Agnico mining costs per ton of 0.9 grams per ton is the same at a grade of 9 grams per ton.
But, cash costs per ounce of recovered gold is just 1/10 th.
So, you have a gold mill that must process 1000 tons of ore at 0.90 grams of head grade to achieve the same ounces of recovered gold as 100 tons at 9 grams per ton .
Agnico owns both.
They will change their socks soon..