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Bullboard - Stock Discussion Forum 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... see more

TSXV:NFG - Post Discussion

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Post by chucker6 on Apr 28, 2022 5:15pm

AGNICO

lots of comparisons to fosterville and AEM just announced production of 81Koz @ $309 all in costs

dont think ive seen any costs that low
Comment by suregold1 on Apr 28, 2022 5:59pm
where are you getting that $30 figure. I just read Financials and could not see that anywehre. Must be getting blind in addition to senile!
Comment by likeike on Apr 28, 2022 6:09pm
Do you mean $309 or are you just trying to be confusing? IKE
Comment by chucker6 on Apr 28, 2022 6:09pm
they just put a press release
Comment by suregold1 on Apr 28, 2022 6:25pm
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 ...more  
Comment by BlueChipper2020 on Apr 28, 2022 6:39pm
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 
Comment by suregold on Apr 28, 2022 7:10pm
You are correct, not all the same.
Comment by likeike on Apr 28, 2022 8:29pm
Suregold bringing up unreliable accounting terms really distracts from the main point. Fosterville could very well be the most profitable mine in the world and focusing on how much it costs to dig it out is moot. It is REDUNKLOUS cheap. There are so few mines out there that keep their costs below $1000 per ounce and  next to none that keep it below $500. Why would you even bring this up? ...more  
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