But as prices fall, others are actually increasing output to maintain revenue and profit levels. In some cases, they are targeting higher grade ore to keep marginal mines operating and generating cash, at the expense of future production.
Isn't that the truth add in the fact every decade average grades of gold production has been dropping how long will many of these profitable mining last before having revert back to their lower grade resources ...many have silver/copper/zinc etc bi-products so can produce lower at times ...but the pure Gold miners days of making much if any profit are closely linked to where the Futures market is be it delayed some months
You can't survive making a loss when the markets are so very anti PM miners currently...low to zero chance of raising capital