NEWS
Precious Metals  

World Gold Council announces update to AISC guidance

The World Gold Council has published an update to its Guidance Note on all- in sustaining costs (AISC) and “all- in costs”, which was first issued in June 2013.

The Council worked closely with its member companies to develop these non-GAAP measures which are intended to provide further transparency into the costs associated with producing gold.

“Since its launch in 2013, we have monitored the use and application of the Guidance Note to ensure that it meets its objective of providing transparency into the costs associated with producing gold, by setting out a consistent methodology,” Terry Heymann, World Gold Council CFO said in a media release.

“In light of new accounting standards and to support further consistency of application, we have included incremental enhancements in the Guidance Note, as well as provided a set of FAQs. We believe this will be of benefit to investors and other stakeholders,” Heymann said.

The use of the “all-in sustaining costs” and “all-in costs” metrics has been widely adopted by gold mining companies as part of their overall reporting disclosure. These non-GAAP metrics have helped provide greater clarity and improve investor understanding. All companies involved in gold-mining are encouraged to use these metrics.

The World Gold Council advises that individual companies have responsibility for their own reporting and it is expected that companies may choose to use the updated guidance starting January 1, 2019, or at the beginning of their financial year.

News No: 2640
Date: 2018/11/17 - 16:00
News Source: MINING.COM

AISC  Gold  GAAP  CFO 

Comments:

Leave a Comment:

   
   
   
 

China’s 2019 steel use, output forecast to drop

China's steel consumption could fall in 2019 after it accelerated to double-digit growth this year, state-run Chinese think-tank the metallurgical planning and research institute said today.
 

Melting gold at room temperature is a thing now

Researchers from Chalmers University of Technology, the University of Gothenburg, the University of Jyväskylä, and Stanford University have found a way to make the surface of a gold object melt at room temperature.
 

Barrick selling research and development firm AuTec

The Turquoise Ridge underground mine is seen by the new Barrick as one of the assets with "high potential" to become Tier 1. Barrick is the operator and 75% owner of the Nevada-based mine. Newmont Mining owns the remaining 25%. (Image courtesy of Barrick Gold.)
 

Condor Gold shares jump on Nicaragua concession licence

Shares in Condor Gold (LON:CNR) climbed over 10% Friday after it announced the Nicaraguan ministry of energy and mines had granted it the Las Cruces concession, which expands its La India gold project package by 45%.
 

Aura Resources optimistic about Arizona gold project

Before the end of the year, Aura Resources (TSXV: AUU) decided to share its plans for the Gold Chain project, which the Ontario miner acquired last July.
 

Gold production to grow in the next four years: report

A report by Fitch Solutions states that the period 2018-2022 is seeing a growth in gold production because slightly higher prices and stronger company financials are encouraging greater mine investment.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners