Hi 99921 et.al.
Snippet:
"Several years and almost $2 billion invested before realizing any production or revenue."
Comment:
(Sarcastic Comment first) Every mining company should have the luxury of having access to reserves that GoldCorp have and also have the same access to funding to recoup their investments so early.
This new GoldCorp mine (Eleonore) plans to initially recover about 285,000 oz/year (approx. ($350 million at today’s price) and increasing to 600,000oz/year within the next three years (almost $800 million at today’s price).
Total Measured, Indicated and Inferred reserves measure in excess of 7 million ounces, numbers that AUM and the like can only dream about. I’m also sure that with those kinds of numbers and the potential this operation gives to the local economy, the company will be able to keep the costs relatively low, probably rivalling Detour Gold, also in Canada.
I’m happy for GoldCorp and its shareholders and feel just a little jealous when comparing their situation to such as AUM, even though I own shares in G. albeit not nearly as many as AUM.
“We live in interesting times”
Good Luck to all!