Worth repeating, Silverado Gold Mines production could be around $500/ton which would allow the company to mine at a profit, while the average production cost for the majors $1,100/ton. $900oz Gold will force the majors to mothball some of their projects while selling off the low grade projects in order to survive. With world wide high demand for physical gold soaring, Silverado Gold Mines could be among the few with a sign on the front door "Open for Buisness" selling the flavor of the day, high grade "Gold-Antimony" All the company needs to do is find the right financing to put the Nolan Creek project into production, and the world will beat a path to their front door!! GRIM REAPER's "DD" Work http://agoracom.com/ir/Silverado/forums/discussion/topics/579172-silverado-est-production-cost-500-vs-1-100-for-major-mining-companies/messages/1818780#message

July 31, 2013

Alacer Gold is the latest victim of the precious metal's price plunge and has announced a $412 million asset write-down.

The heavy hit applies to its two Australian mines located around Kalgoorlie that are for sale.

Alacer is still profitable due to its younger, growing Turkish Copler mine which the company said produced 68,195 ounces of gold for the quarter.

The more mature Australian mines produced 41,622 ounces but at a 221 per cent higher cost of $1,268 an ounce, according to Alacer.

The miner is the latest in a string of Australian goldminers to rush through asset write-downs in the hundreds of millions of dollars before earnings season begins.

This week alone, Kingsgate Consolidated and Resolute Mining announced severe job cuts and impairments respectively.

Newcrest Mining flagged a possible $6 billion writedown in June with the total globally at least $15 billion in the last two months.

Alacer said cash flows at the two mines: Higginsville and South Kalgoorlie had been adversely affected.

The reasons included production levels, operating costs, and capital expenditures as well as economic factors, such as gold prices, the company said was beyond its control.