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WGA Autumn edition is now released

Q2 11 Production Review
For the three months ending June 2011, the average reported producer cash costs rose by 17%, to US$609/oz, lifted by higher energy, labour and consumable costs, while the appreciation of many producer currencies and the higher gold price have also had a significant bearing. Minefinders’ and AuRico Gold’s (formerly Gammon Gold) cash costs fell to negative US$850/oz and US$414/oz respectively, as both the companies’ Mexican mines, Dolores and Ocampo respectively, benefitted from significantly higher by-product silver revenue. Barrick Gold, the largest producer globally, recorded a quarterly rise of 2% in its gold output y-o-y to 1.98 Moz.

Metals & Markets
The gold price set new highs in price and volatility over the period under review, with US$1,900/oz breached in a fast and furious run up before losing US$300/oz from its September highs. Meanwhile, gold equities continue to disappoint.

June 2011 Quarter Review
20 pages of comment and analysis on results for Q2 for almost seventy of the world’s top gold producers. Production, costs, earnings, market capitalisation, resources, project update.

World Gold Explorer
Conditions seemed perfect for most of 2011 for increased merger and acquisition activity. The soaring gold price meant ‘windfall’ profits, and hence healthy cash margins, for the gold producers while many gold developers’ shares underperformed, often losing market value, making them cheap targets. But in the event, M&A activity has been relatively restrained this year although it may just be picking up. Also, we look at silver stocks as an investment class.

Silver Producers
Review of results of some of the new breed of primary silver producers

Top Gold Producers 2010