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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by BlueChipper2020on Apr 28, 2022 6:39pm
167 Views
Post# 34640570

RE:RE:RE:RE:AGNICO

RE:RE:RE:RE:AGNICO
suregold1 wrote:
For your benefit and all other readers (big difference between cash costs and ASIC):

How is AISC mining calculated?
 
Formula of the All-in sustaining costs or AISC: All-In Sustaining Costs = Cash Costs (including by-product credits) + Sustaining Capital + Exploration expenses + G & A expenses.

That $309 is "CASH COSTS ONLY". See formula above as miners got in huge trouble some years ago only reporting cash or variable costs of production. ASIC is more important. Very low cash cost at Fosterville but not inclusive of some pretty important numbers. ASIC is about $1,000 per ounce I believe!




The World Gold Council a number of years ago came out with unauthorizative guidance on AISC.

See the following link: 

https://www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs

All companies do not calculate this 100% exactly the same, however suregold's explanation is a great summary.  Cash costs in themselves is very misleading and not useful. 

GLTA
BC 



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