Aurum Analytics

10/02/2024

31/08/2018

Aurum Analytics modified cost curve for 2018 Q2, showing the mines with significant base metal by-products on a co-product AISC basis. This changes the order of the top 10 lowest cost producers to:
1. Ernest Henry - Evolution Mining
2. Gwalia - St Barbara Limited
3. Fosterville - Kirkland Lake Gold (KL)
4. Cadia Valley - Newcrest Mining
5. Peak - Aurelia Metals Ltd
6. Jundee - Northern Star Resources Limited
7. Mt Carlton - Evolution Mining
8. Duketon South - Regis Resources Ltd
9. Mt Rawdon - Evolution Mining
10. Cowal - Evolution Mining
Compare this to the top 10 as reported in the Aurum Analytics quarterly report.http://aurumanalytics.com.au/pdf/Aurum_Analytics_2018_Q2_Gold_Report_Final.pdf

31/08/2018

Aurum Analytic's quarterly gold report with the support of PCF Capital Group, for the quarter ending 30 June 2018 has been released. Download it here.http://aurumanalytics.com.au/pdf/Aurum_Analytics_2018_Q2_Gold_Report_Final.pdf

28/08/2018

The latest gold quarterly report now available at:

http://aurumanalytics.com.au/pdf/Aurum_Analytics_2018_Q2_Gold_Report_Final.pdf

Overview
The average All-in Sustaining Cost (AISC) for Australia and New Zealand was A$1,142/oz, which is up 3.9% (A$43/oz) on the previous quarter average AISC of A$1,099/oz. Evolution Mining’s part of the Ernest Henry operations was the lowest cost producer reporting
an AISC of A$-823/oz followed by Newcrest’s Cadia Valley operations with an AISC of A$288/oz, then by Aurelia Metals’ Peak (A$517/oz) and Hera (A$631/oz) mines. The average gold spot price for the quarter was A$1,725/oz (US$1,306/oz). It should be noted that all of these low-cost operations benefit from significant base metal by-products. Aurum Analytics’ estimate of these operations AISC on a co-product basis (Co-AISC) is as follows; Ernest Henry Co-AISC of A$525/oz, Cadia Valley Co-AISC of A$713/oz, Peak Co-AISC of A$777/oz and Hera Co-AISC of A$993/oz. The lowest cost “gold only” operations were St Barbara’s Gwalia with an AISC of A$679/oz, then Kirkland Lake’s Fosterville (A$711/oz) and Northern Star’s Jundee (A$813/oz).

28/08/2018

The latest report out now.
http://aurumanalytics.com.au/pdf/Aurum_Analytics_2018_Q2_Gold_Report_Final.pdf

Overview
The average All-in Sustaining Cost (AISC) for Australia and New Zealand was A$1,142/oz, which is up 3.9% (A$43/oz) on the previous quarter average AISC of A$1,099/oz. Evolution Mining’s part of the Ernest Henry operations was the lowest cost producer reporting an AISC of A$-823/oz followed by Newcrest’s Cadia Valley operations with an AISC of A$288/oz, then by Aurelia Metals’ Peak (A$517/oz) and Hera (A$631/oz) mines. The average gold spot price for the quarter was A$1,725/oz (US$1,306/oz). It should be noted that all of these low-cost operations benefit from significant base metal by-products. Aurum Analytics’ estimate of these operations AISC on a co-product basis (Co-AISC) is as follows; Ernest Henry Co-AISC of A$525/oz, Cadia Valley Co-AISC of A$713/oz, Peak Co-AISC of A$777/oz and Hera Co-AISC of A$993/oz. The lowest cost “gold only” operations were St Barbara’s Gwalia with an AISC of A$679/oz, then Kirkland Lake’s Fosterville (A$711/oz) and Northern Star’s Jundee (A$813/oz).

09/08/2018

Regis Resources Limited (ASX:RRL) 2018 Q2: Regis produced 92,008oz of gold at an AISC of A$982/oz (US$743/oz). Their Duketon North operation produced 24,837oz at an AISC of A$1,145/oz (US$867/oz) and Duketon South produced 67,171oz at an AISC of A$922/oz (US$698/oz).

09/08/2018

Evolution Mining Limited (ASX:EVN) 2018 Q2: Evolution produced 202,254oz up on previous quarter at an AISC of A$846/oz (US$640/oz). Individually Ernest Henry produced 24,202oz at an AISC of -A$823/oz (-US$623/oz), Cowal 63,777oz at an AISC of A$976/oz (US$739/oz), Cracow 26,154oz at an AISC of A$1,232/oz (US$932/oz), Mt Carlton 26,708oz at an AISC of A$712/oz (US$539/oz), Mt Rawdon 31,244oz at an AISC of A$934/oz (US$707/oz) and Mungari 30,169oz at an AISC of A$1,235/oz (US$935/oz).
Taking the base metal by-products at Ernest Henry and Mt Carlton into account, Aurum Analytics estimates a Co-product AISC at Ernest Henry of A$525/oz (US$397/oz) and Mt Carlton of A$900/oz (US$681/oz).

09/08/2018

Northern Star Resources Limited (ASX:NST) 2018 Q2: NST produced a record 183,959oz at an AISC of A$982/oz (US$743/oz). Jundee produced 82,058oz at an AISC of A$813/oz (US$615/oz) and Kalgoorlie produced 101,891oz (Kanowna Belle 36,299oz, Kundana JV 51,345oz & Millennium 14,258oz) at an AISC of A$1,127/oz (US$853/oz). Note: conversion to US$ done at Aurum Analytic's 2018 Q2 quarterly average A$/US$ conversion rate of 0.7569 compared to 0.74 used in NST's ASX announcement.

09/08/2018

St Barbara Limited (ASX:SBM) 2018 Q2: St Barbara produced a record total of 119,436oz of gold at an AISC of A$812/oz (US$615/oz). Their Gwalia mine produced 84,537oz at an AISC of A$679/oz (US$514/oz) and Simberi produced 34,899oz at an AISC of A$1,135/oz (US$859/oz).

09/08/2018

Kirkland Lake Gold Limited (TSX:KL & ASX KLA): Kirkland's Fosterville operation had another standout quarter producing 77,462oz of gold at an AISC of A$711/oz (US$538/oz). It is probably only going to get better with the outstanding Swan zone.

09/08/2018

Australian plus base metal mines for 2018 Q2. Comparison between reported AISC, most commonly reported after by-products and Aurum Analytics estimated co-product AISC, based on revenue breakdown, which provides a better measure when comparing to gold only mines. The table is ordered from lowest to highest co-product AISC.

09/08/2018

Top 10 Australian Mines owned by Mid Tier gold mining companies ranked by gold produced and reported All-in Sustaining Costs (AISC) for the quarter ending 30 June 2018.
Top 3 by production were:
1. Northern Star's Kalgoorlie Operations;
2. St Barbara's Gwalia; and
3. Northern Star Resources' Jundee
The top 3 lowest cost mines by reported AISC were:
1. Evolution's interest in Ernest Henry;
2. Aurelia Metals' Peak; and
3. Aurelia Metals' Hera.
Note Ernest Henry, Peak and Hera all benefit from base metal by-product credits. On an estimated co-product AISC basis Ernest Henry, Peak and Hera have an estimated Co-AISC of A$525/oz, A$777 and A$993/oz respectively. If you are a gold purist lowest cost operation was Gwalia followed by Fosterville.