fredag 10 januari 2014
Comex badar i rekordstora silverlager
(Bloomberg) - Exchange-monitored U.S. inventories of silver jumped to a 16-year high after prices in 2013 tumbled the most in more than three decades.
Stockpiles on the Comex in New York touched 176.28 million ounces today, the highest since July 1997. Inventories have climbed for seven straight sessions, the longest stretch since February. The supplies rose for a third year in 2013, the longest span of annual gains in a decade.
och mer kommer från en av branschens stora och deras guld/silvertunga gruvor:
In a press release issued Wednesday, Goldcorp predicted gold production would increase by 50% over the next two years, along with a reduction in all-in sustaining costs of 15-20% during that period.
For 2014, the company estimates that all-in sustaining costs will decrease to between $950 and $1,000 per ounce, compared to $1,065 per ounce in 2013.
“Decreasing costs are expected to be driven by increasing grades and by-product production at Peñasquito, lower costs at Pueblo Viejo, lower-cost production from Cerro Negro and Goldcorp’s continued overall focus on cost efficiencies through the Operating for Excellence program,” said Goldcorp.
The company reported 2013 gold production of 2.67 million ounces, an 11% increase over 2012. “Every Goldcorp-operated mine either met or exceeded 2013 production guidance with the exception of Los Filos, where record floods last summer temporarily halted production,” said Goldcorp CEO Chuck Jeannes. “Just as importantly, our successful cost reduction efforts in the face of lower gold prices resulted in key efficiency and productivity gains while keeping our growth profile intact.”
“We successfully achieved our cost guidance despite significantly lower realized metals prices,” Jeannes observed.
Silver production is “expected to show very strong growth with 2014 production forecast between 34 million and 36 million ounces (including approximately 22 to 25 million ounces at Peñasquito),” the company said.
Bra bolag har tillräcklig lönsamhet vid dagens priser och fortsätter alltså sin expansion. Dåliga gruvor gör istället så att dom fokuserar på den rikaste malmen för att få ner cash cost vilket också ökar produktionen....
Kort sagt, sambandet mellan lägre priser och lägre production är något som är på längre sikt, inte kort sikt.