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8/23/16

Warren Dick: "Can the gold industry avoid the sins of the past?"

This piece by Mineweb editor Warren Dick is absolutely spot-on correct, as is the main player in the report, Nick Holland of Gold Fields (GFI). Here's an excerpt:

“How is it possible that companies can drop their stay-in-business capital so much when their operating costs have stayed reasonably constant?” asks Holland. “I believe that they have merely deferred capital that is going to come back, because if you want to sustain the business into the future, you need to spend that money. That for me is a little bit of a concern.”