Senior mining companies continued to struggle with production costs, reserves depletion and write-downs, owner of Adrian Day Asset Management Adrian Day told an audience at the newsletter writers’ day during the recent Prospectors and Developers Association of Canada convention.
Compounding matters, the costs that had been clawed back were modest in offsetting the effects of gold’s price decline. That was even more noticeable when the savings afforded by lower oil prices, a central expense for any mining operation, were considered.
