Simon’s stock tips
Local gold companies have been publ i s hing t hei r f i r s t- quar t er updates, which makes for very sorry reading. Sure, there have been issues and South African mines are deep and hence expensive, but the reality is that their all-in costs per ounce mined sits around the current gold price, leaving no room for error. If we look abroad, the majors (Barrick, Newmont and Goldcorp) all have lower costs, with Barrick below $900 ( R10 750) per ounce. The bottom line is that if you want to buy a gold miner, the non-South African mines are a better bet, unless it is the leverage you’re looking for.