Tom's Inflation Calculator

In 1991, the Seabee mine started up. They were producing gold out of a 6g/t+ deposit at gold prices that were averging $400/oz. U.S. Canadian mines selling their gold in U.S. dollars could obtain a 30% premium since the Canadian dollar was so much lower.

The 1991 $400/oz. eyeball gold price average in U.S. dollars adjusted for inflation using shadowstats available through Tom's Inflation Calculator, gives us a result of ~$2145/oz. U.S. nowadays.

So the mines of the La ronge gold belt won't be profitable until the gold price reaches the same in Canadian dollar terms, since they are presumed to average 6-7g/t.

http://www.halfhill.com/inflation.html

-F6