RE:RE:RE:RE:RE:Was it 250 GPM of water coming into Granite Creek?
1 Svetloye (open-pit) $425/oz
2 Fosterville (underground) $442/oz
3 Olimpiada (open pit) $468/oz
4 Voro (open-pit) $477/oz
5 South Arturo (open pit) $478/oz
6 Long Canyon (open-pit) $505/oz
7 Fekola (underground) $533/oz
8 Cerro Negro (underground) $535/oz
9 Blagodatnoye (open pit) $547/oz
10 Moose River (open pit) $564/oz
Of course, a mine can be quite profitable at AISC's lower than these and I suspect there are many, both open pit and underground, that fit this bill. That said, I think the advantage would go to open pit mining as it's typically less expensive to mine. Of course, factors like grade, width of veins, type of deposit, etc. all play a role. Also, remember that the above AISCs were calculated back in 2018 when interest rates and inflation were hovering around all-time lows unlike today and likely moving forward, so I assume both the above projects and new ones that hit first pour will experience significantly higher costs all else being equal.
Personally, I think all three of IAU, SKE, and ARTG will exceed currently anticipated AISC numbers by the time a new project reaches first pour, so I've adjusted my expectations accordingly. As for the price of gold, I could see it holding at 2,000 or slightly higher, but this is also around it's all-time highs, so I have my doubts as to whether it will climb to $2,100 or more and stay there for a number of years.