The world’s biggest gold miners moved to combined negative cash flow in Q4 2014.
by Lawrence Williams
Mine Web
We
are indebted again to precious metals analysis consultancy, Metals
Focus, for bringing to our attention that the world’s top gold miners
had moved into a combined Negative Cash Flow (NCF) position during the
final quarter of last year. This is after three consecutive quarters
where they had recorded positive Free Cash Flow (FCF) – that is after
taking into account all elements of costs including capital
expenditures.
For several years, Mineweb ran a campaign to push the gold mining sector to report FCF figures (South Africa’s Gold Fields was probably the only Tier 1 gold miner at the time which did) but eventually most have come round to so doing – helped by the relatively new reporting metric of All In Sustaining Costs (AISC), to which most big gold miners now subscribe, which gets close to reporting the FCF figure.
Continue Reading at MineWeb.com…
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by Lawrence Williams
Mine Web
We
are indebted again to precious metals analysis consultancy, Metals
Focus, for bringing to our attention that the world’s top gold miners
had moved into a combined Negative Cash Flow (NCF) position during the
final quarter of last year. This is after three consecutive quarters
where they had recorded positive Free Cash Flow (FCF) – that is after
taking into account all elements of costs including capital
expenditures.For several years, Mineweb ran a campaign to push the gold mining sector to report FCF figures (South Africa’s Gold Fields was probably the only Tier 1 gold miner at the time which did) but eventually most have come round to so doing – helped by the relatively new reporting metric of All In Sustaining Costs (AISC), to which most big gold miners now subscribe, which gets close to reporting the FCF figure.
Continue Reading at MineWeb.com…
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