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The reports and comments on this site are currently written by Keith Goode.

ERA’s reports mainly cover precious and base metals companies where anyone can see what the price of the product is, with the majority being gold companies, followed by nickel companies.

The reports are paid for by the company concerned and email distributed free. However, we only do them if we like the management (70%), project (20%) and country (10%) for which you need about 90% in each category.

Sites are visited in order to write a report, and typically a week is spent with a company and then it is written up in the following 2 to 3 weeks, with excel modeling where required slowing the report's timing. Report sizes are typically 6 to 12 pages.

Dec 2013 - Supercycle

The Supercycle is not over yet !

Or at least that was the comment made by at least 3 of the Chinese presenters in the commodity sessions spread over 4 days of the China Mining 2013 Conference held in Tianjin in early November 2013.

Oct 2013 - Cutting Costs

Innovatively Cutting Costs

The fall in the gold price has caused gold producers to focus on cutting costs, in exploration, corporate, staff, and anything else. However, it has also resulted in a few innovations that we/ERA have not seen before, most of which we saw in our August 2013 visit to Silver Lake's operations, such as LNG power, contractor vending machines and a mini de-sal(ination) plant as shown in Figure.

Sep 2013 - Against AISC

Against the AISC

Since its introduction by the WGC (World Gold Council) the proposed AISC (All in sustaining cash cost) method appears to have spread confusion and damaged share prices such as Silver Lake (SLR.ax) who were one of the first Australian gold companies to adopt it in their March Quarterly 2013.

Aug 2013 - China's Demand

Don't underestimate China's Demand

It's almost as if the market wants China's growth to fail, jumping on any signs of weakness and knocking down commodity prices. It seems to pounce on HSBC's pmi (purchasing managers index) forecasts which have been shown to be wildly inaccurate by up to 2 points as in the June 2013 figures showing slowing down at 48.2 whereas the actual figure when later released was over 50 (50.1, seen as growth).

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