Realized Gold Price So I've been tracking the realized gold price of several miners for comparison.
I have posted this info before. Now we have the 4th Q KNT data per below:
4th q
Report date. 3rd q. 4th q differential
PMNXF. 1/24 1936 1963 +27
AEM. 2/15 1928 1982 +54
GOLD 2/14 1928 1986 +58
SAND 2/15 1919 1948 +29
NEM. 2/22 1920 2004 +84
KNTNF 4/1 1854 1898. +44
You'll recognize NEM, AEM and GOLD as 3 of the largest gold miners
in the world each with multiple mines all over multiple countries,
These all also have the mix of a variety of metals mined but all reporting
a REALIZED GOLD price.
SAND is a royalty company that I do own which collects revenue
from dozens of mines
PMNXF is a small African miner with 3 properties in 2 countries.
I once held but sold over concerns about several regime changes and
recent Wagner activity (Russia) in the region.
Nevertheless, I thought it interesting that KNT routinely has a Realized
Gold Price significantly lower than all above despite handling similar
concentrate and dore shipments from multiple mine locations.
Why?
This may seem a minor point given gold's recent run up but it would be
an interestingly question for an analyst to ask at tomorrow's conference.