Mine Writedowns

Mine writedowns continue, especially those in remote areas. So lately we have Newmont writing down Hope Bay, Agnico writing down Meadowbank, and Kinross writing down Tasiast.

Barrick still has to come up with their own writedowns, since costs are presumed to have escalated. What has actually occurred is that grades are not as advertised.

Net Present Value for all of these projects are probably falling behind inflation as the purchasing power in the common currency declines.

Financial Post