flow chart to illustrate the refining process of an ore

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    Based on these three examples, we submit that current standards remain non-universal, confusing, and inadequate to determine the real cost of mining gold.

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  • Appearance: silvery gray metallic; corrodes to a spalling black oxide coat in air
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    Furthermore, this chart shows that the acquisition cost per ounce does not correlate with the size of the resource: Based on 253 gold deposits acquired from 1990-2013, Cipher calculated a median benchmark value for an ounce of gold in the ground at about $40 and established that 80% of the ounces were valued at less than $90.

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