{"id":53346,"date":"2020-05-17T14:25:53","date_gmt":"2020-05-17T19:25:53","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53346"},"modified":"2020-05-17T14:25:57","modified_gmt":"2020-05-17T19:25:57","slug":"chart-of-the-week-primary-silver-miners-real-cost-higher-than-published-all-in-sustaining-cost","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53346","title":{"rendered":"CHART OF THE WEEK: Primary Silver Miners REAL COST Higher Than Published All-In-Sustaining Cost"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/srsroccoreport.com\/chart-of-the-week-primary-silver-miners-real-cost-higher-than-published-all-in-sustaining-cost\/\">CHART OF THE WEEK: Primary Silver Miners REAL COST Higher Than Published All-In-Sustaining Cost<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The chart of the week shows that some of the leading primary silver miners total REAL COSTS are higher than their published All-In Sustaining Cost.&nbsp; My analysis suggests that the companies\u2019 All-In Sustaining Costs (AISC), are not really \u201cAll-In.\u201d&nbsp; So, I quickly did my calculations based on these companies\u2019 adjusted earnings.&nbsp; If I used their net income, their estimated Breakeven would be much higher.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the chart below, the four primary silver mining companies (if we can still call some of them that) posted their AISC for Q1 2020.&nbsp;<strong>&nbsp;The biggest JOKE of them all is Hecla, which reported a low $11.06 All-In Sustaining Cost for silver.&nbsp; Well, that\u2019s surprising when Hecla suffered a $17 million net income loss for the period<\/strong>.&nbsp; So, how could Hecla be losing money if its All-In Sustaining Cost was $11.06 when they received $16.94 per ounce for their silver during Q1 2020?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s quite simple\u2026&nbsp;<strong>the All-In Sustaining Cost is a BOGUS METRIC used to confuse and bamboozle unsophisticated investors<\/strong>\u2026 and it works like a charm:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/d39ua1j16brbz0.cloudfront.net\/wp-content\/uploads\/2020\/05\/Primary-Silver-Miners-AISC-vs-SRS-Breakeven-Q1-2020.png\" alt=\"\" class=\"wp-image-22029\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">So, if you scan across the chart above, you will see the individual company\u2019s AISC in&nbsp;<strong>BLUE<\/strong>, while the&nbsp;<strong>RED BARS<\/strong>&nbsp;show my simple estimated Breakeven for each.&nbsp;<strong>Endeavour Silver gets the TAKE ME OUT THE WOODSHED AWARD because it\u2019s losing money hand-over-fist ever since it had to shut down its El Cubo Mine, a COMPLETE WASTE of a mine that should have never been acquired by the company.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a nutshell, if you are a new investor looking for HOT silver mines to invest, do me a favor and pay no attention whatsoever to the All-In Sustaining Cost metric.&nbsp; I need to do more analysis in this area to help investors from buying the WORST CANDIDATES in the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHART OF THE WEEK: Primary Silver Miners REAL COST Higher Than Published All-In-Sustaining Cost The chart of the week shows that some of the leading primary silver miners total REAL COSTS are higher than their published All-In Sustaining Cost.&nbsp; My analysis suggests that the companies\u2019 All-In Sustaining Costs (AISC), are not really \u201cAll-In.\u201d&nbsp; So, I [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[29772,730,29771,19585,12073],"class_list":["post-53346","post","type-post","status-publish","format-standard","hentry","category-economics","tag-mining-costs","tag-silver","tag-silver-miners","tag-silver-price","tag-srsrocco-report"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53346"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53346\/revisions"}],"predecessor-version":[{"id":53347,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53346\/revisions\/53347"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}