Barrick’s costs were down by $100 per ounce, to an estimated $833. New Gold announced that all-in sustaining costs dropped $239 per ounce, year-over-year, to $908 an ounce. Eldorado Gold announced first quarter production costs of a remarkably low $786 per ounce."......................... “Keep in mind,” said the Canadian investor, “that not all of these cost reductions are due to brilliant management. I know most of these guys, and nobody is really that good, such that they can move their needle that fast. A lot of that so-called ‘cost-improvement’ has to do with changing the mix of ore grade that engineers run through the plants. That is, they opened up the usually-locked doors on those ‘magic stopes’ in the mines, and pulled out high grades that they normally keep under wraps for special occasions. Like now, when they need to impress Wall Street.” http://dailyreckoning.com/get-ready-for-the-gold-mining-comeback/