RE: re;all in costs Do you realize that the largest gold miner Barrick gold has essentially the same all-in-costs as EDV? Yes, Barrick's costs for 2013 are $1000-1100, which EDV's are 1055-1155. Same for Goldcorp. And the average 2013 all-in-cost to mine gold for 60 largest miners is $1,391. Mining gold is not cheap. In the short run, markets can do all kinds of stuff - especially when Wall Streeters see juicy targets like bunch of Japanese traders piling into gold on margin when Japan decided to devalue the yen. In the long run, not even Wall Street can overcome basic laws: things will cost what it takes to make them + profit. Just like us little guys, EDV just has to survive for a while. By the way, the 2013 capital generation requirement for EDV was $80MM, not $100MM ($230 - 150, it's in their presentation) and at least half of it was already generated prior to this gold takedown. They can do the remaining $40MM even if gold averages $1300 through the rest of the year, and they can always cut back on exploration a bit. I think EDV won't have to hunker down too much or stop their new mine construction. GTLA except for the shorts.
Source: https://www.forbes.com/sites/kitconews/2013/03/04/focus-some-fund-managers-like-new-all-in-gold-miner-cost-metrics-others-say-more-is-needed/