Large-cap gold companies are in crisis mode—that’s the truth. Most of them have operational costs, which are near or at $1,250, so they’re employing thousands of workers daily, dwindling their only asset, gold, and at the end of the day, they have little to show for it.
We’ve already heard from the CEOs of Barrick, Newmont and other multibillion-dollar mining conglomerates that peak gold production is at hand, but now we know that even the proven reserves on the balance sheets have retraced to 2004 levels.
In the gold sector, what triggers the institutional money participants—those that will buy our shares from us two to three years down the road for many multiples of what we paid for them in 2017—is a buyout phase. read the rest at The Gold Report