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Gold mining, explained.
“The metal rewards those who first understand the rock.”
Evergreen reference
Plain-language explainers from a working gold producer.
Short, technically accurate primers on the terms, standards, and geology behind gold mining. Written by the team that operates the Songjiagou Gold Mine in Shandong Province, China.
5 min read
What is All-In Sustaining Cost (AISC) in gold mining?
AISC is the per-ounce cost a gold producer needs to keep a mine running at current production. Here is how it is calculated and why it matters more than the spot gold price.
6 min read
Reserves vs. resources: what gold investors need to know
Mineral resources and mineral reserves are different things. Confusing the two is the most common mistake retail investors make when reading a junior gold company's filings.
7 min read
How is gold mined in Shandong Province, China?
Shandong is the largest gold-producing province in China and home to the Jiaodong gold belt. Here is how the deposits formed, how the mines work, and why the district is so productive.
6 min read
NI 43-101 explained: how Canadian gold producers report their geology
NI 43-101 is the disclosure standard for mineral projects on Canadian exchanges. Here is what a 43-101 technical report contains and what investors should look for.
7 min read
Why China is the world's largest gold producer
China has been the largest gold-producing country in the world since 2007. Here is the geology, the policy, and the industrial structure that put it there — and what it means for foreign-listed producers operating in country.
5 min read
AISC vs. cash cost: what's the difference, and which matters more?
Cash cost and AISC are the two per-ounce numbers every gold producer reports. They are not the same — and using the wrong one will mislead you about a mine's true economics.
6 min read
Junior gold producer vs. explorer: how the two are different
Both trade on the TSXV. One pulls gold out of the ground every quarter; the other is trying to find some. The distinction drives nearly everything else about the investment case.
6 min read
How gold producer dividends work — and why most juniors don't pay one
Gold dividends are rare among juniors and common among seniors. The reasons say a lot about the economics of running a gold mine.
6 min read
How Chinese gold mines are taxed: a primer for foreign investors
Chinese gold operations pay a stack of national and provincial taxes, plus a mineral resource tax tied to gold sales. Here is what foreign-listed producers actually pay before profits reach the parent company.