×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: gold | investment | metals | price

Gold's 'All-In' Costs Will Spur Investment, Industry Group Says

Thursday, 27 June 2013 08:09 AM

The World Gold Council, a U.K.-based industry group funded by producers, said new methods for reporting mining costs will help spur investment.

The WGC published guidance on presenting “all-in” costs to give investors a better understanding of producers’ profit margins and help them compare performance. Such costs exceed traditional cash costs because they include expenses such as capital spending, administration and exploration.

“There is that desire for further consistency and transparency on costs,” Terry Heymann, director of responsible gold at the London-based council, said by telephone. “There have certainly been a lot of calls from the investor community for a new form of reporting that looks at all-in costs.”

Gold-mining stocks, which have underperformed the precious metal for the past six years, are seeking to lure investors back after money-losing takeovers and budget blowouts sapped returns. Cash costs averaged $771 an ounce in the first quarter, 43 percent higher than two years earlier, according to data from 12 of the biggest miners compiled by Bloomberg.

“It does provide further transparency and help people understand the economics of gold mining,” Heymann said. “There have been a number of calls from the investor community over recent months for a more consistent metric.”


© Copyright 2022 Bloomberg News. All rights reserved.


Markets
The World Gold Council, a U.K.-based industry group funded by producers, said new methods for reporting mining costs will help spur investment.
gold,investment,metals,price
200
2013-09-27
Thursday, 27 June 2013 08:09 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved