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overtheedge
Member since May 2012
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No Gold Company Will Generate Free Cash Flow at Current Prices - Andy Hoffman - Miles Franklin

Yah, I'm thinking this is gonna work out real well for the tax revenue stream too.
Much smaller payrolls and support services will severely contract. We mustn't forget minimal to no equipment and supply sales.
And now more unemployment insurance and SNAP.
With mining providing higher than average wages, you can well imagine the debts those employees have incurred. Yes, mortgages, vehicle payments, their offspring's college tuition and imagine what else. Monthly living costs expand to consume all available income for most folks.
I tell you, "It's that Law of Unintended Consequences getting away from us again."

Commented 4145 days ago

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Beginning of the headline :Read the Monday Afternoon Wrap-Up for 7/8/2013 and the Tuesday Morning Commentary for 7/9/2013 In late 2008, the Cartel unleashed its most furious PAPER PM assault to date; dwarfed, by the way, by what we have seen in 2013. In the process, they slammed gold prices from $1,000/oz. to $670/oz., and silver from $21/oz. to $8/oz., in months. The resulting PHYSICAL demand surge was historic, with gold and silver premiums surging to 30% and 100%, respectively, before PAPER prices rebounded sharply i... Read More

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