Thread by @srinicaps

@jaganmsna
@WeekendInvestng

#WarrenBuffett buys into #barrickgold

a lot has been said and discussed, a thread to explore the reality, original contents by @macdonaldajm

While this isn’t a immediate worry , with gold price at $2000 an ounce miners face the long term...

prospect of higher costs and drilling in less hospitable places , a sharp sell off in gold also reminded miners that high prices cannot be taken for granted ,
Gold prices are up about 28 % this year, miners have used this rally to pay down debt and increase dividends,

rather than start new projects , with executives wary of repeating their costly over expansion during the last big run up in prices , We are definitely past peak gold” said Mark Bristow , CEO of Barrick Gold Corp, the worlds second largest gold miner by market capitalisation

Miners are spending less money on finding new Gold , with the industry’s exploration budget in 2019 at $ 4.4 Billion , is 63% lower than the budget in 2012
Some miners and geologists suggest Gold May be harder to mine ,

but technology can bring down costs and allow access to new mineral rich places such as the ocean floor
Gold companies are doing out dividends , Barrick Gold announces an increase of 14 % for it second quarter payout , while Newmont has increased dividend by 79%

South Africa’s Gold Fields Ltd said it would capitalise on the high Gold price by paying down around $750 Million in debt
Barrick , Newmont , Agnico Eagle & others say they will only approve new projects if they can make money with Gold at $1200 about 40% down to CMP

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