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Frank Holmes: Gold miners had record high profit margins in 2020
By Frank Holmes
U.S. Global Investors, San Antonio, Texas
Tuesday, March 30, 2021
Gold producers had their most profitable year ever in 2020, based on one metric.
The average all-in sustaining cost (AISC) margin, which is the gold price minus the cost to produce the metal, hit a record $828 per ounce, according to Metals Focus.
What this means is that for every ounce of gold a mining company produced in 2020, it got to pocket $828 on average. This is comfortably higher than the previous record of $666 set in 2011. ...
... For the remainder of the analysis:
https://www.usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-...
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