sixgun

**sellerstacker** · Sunday at 21:20

i was watching the internet clock tick down - i pushed the button on the second so no-one could beat me if i was the highest bid.

**iacabu** · Sunday at 20:59

£1207

**katyc** · Saturday at 11:44

The biggest cost in mining / refining gold and silver is energy.
A lot of silver is a by-product of gold and base metal extraction. It could be seen a coming for free.

Asking Chat GPT i see this.

What is the average cost of mining and refining gold and silver?

ChatGPT

The average cost of mining and refining gold and silver can vary widely based on a number of factors including the location of the mine, the quality of the ore, the scale of operations, and the technology used. Here's a general overview:

Gold:

Mining Costs:
- The cost to mine gold varies but typically ranges between $600 and $1,000 per ounce. These costs include the direct mining costs, processing, and transportation.
All-In Sustaining Costs (AISC):
- This is a comprehensive measure of the cost to produce gold, including sustaining capital, administrative costs, and exploration. AISC typically ranges from $900 to $1,300 per ounce.
Refining Costs:
- Refining gold typically costs between $5 and $20 per ounce, depending on the method used and the purity required.

Silver:

Mining Costs:
- The cost to mine silver varies and is generally lower than gold. Typical costs can range from $10 to $30 per ounce. This includes extraction and processing costs.
All-In Sustaining Costs (AISC):
- For silver, AISC can range from $12 to $20 per ounce. This includes all the associated costs of production.
Refining Costs:
- Refining silver is also less expensive than gold, typically costing between $0.50 and $2 per ounce.

Factors Affecting Costs:

Location: Costs can be significantly higher in remote locations where infrastructure is limited.
Ore Grade: Higher-grade ores (higher concentration of gold or silver) reduce the cost per ounce since more metal can be extracted from a smaller amount of ore.
Energy Costs: Mining is energy-intensive, so the cost of energy (electricity, diesel) can impact overall costs.
Labor Costs: The cost of labor can vary significantly depending on the country and the skill level required.
Regulatory Costs: Environmental regulations and other governmental requirements can add to the cost of mining and refining.
Technology: Advances in mining and refining technology can lower costs over time.

Industry Data:

To get the most accurate and up-to-date information, industry reports and financial statements from major mining companies (such as Barrick Gold, Newmont Corporation for gold, and Pan American Silver, Fresnillo for silver) are valuable resources. These companies regularly publish detailed cost breakdowns in their annual reports and quarterly updates.

Conclusion:

While the average costs mentioned provide a general overview, the specific costs for mining and refining gold and silver can vary significantly based on a multitude of factors. Always refer to the latest industry data and reports for the most accurate and detailed information.

As we can see the all in sustaining cost (AISC) of an ounce of gold is up to $1300 and that of an ounce of silver is $20. That gives you a AISC ratio of 65.

One might reasonably argue the GS ratio should be around 65 - not that gold should be $1300 and silver $20 but a multiple of the 65 ratio. However there are confounding factors. The first is that silver is consumed, so above ground gold accumulates whilst silver 'disappears' and no longer contribute to the supply chain. Indeed we have seen deficits in silver in recent years - when did you ever hear of a gold deficit other than at Fort Knox?

We could argue that there is an awful lot of gold around that only cost a few dollars to mine whilst silver at similar prices has in the main long gone to the municipal dump. Silver is actually needed - it may be replaced at some point by alternatives but currently it just isn't worth the effort. Consumption continues to climb especially in the field of Green technology. If the demand for silver radically outstrips supply we would and some might say will see intense competition for silver. If a company's production line for high end mobile devices grinds to a halt due to insufficient silver we would surely see the price of silver going up multiples of the present level. If the silver in a phone currently costing $1 had to go to $20 to secure supply, then so be it, the consumer will have to pay and at the same time we see silver at $100's per ounce.

MBTPSilver · Friday at 18:57

19 minutes ago, Airhead said:

I find it hard to believe that the bull run is solely down to paper traders. There is something else at work here and if someone was to say state actor(s) I would not necessarily disbelieve them. Don't get me wrong, I am not complaining, just wondering.

No of course it isn't 'solely down to paper traders'. Mined supply is falling - there has been big silver deficits since 2021. Demand is soaring both industrially and from physical investors. The Shanghai price is dollars higher than the suppressed Western price which further sucks silver out and to the East. The net result is the supply does not equal demand so the price is getting pushed up; and as the price gets pushed up the shorts have to start closing which compounds the rise.

**Spyder** · Friday at 18:48

Well i didn't get it - i was too slow.

**Go65** · Friday at 18:43

i will take

**Gruff** · Friday at 16:19

**FriedrichVonHayek** · Friday at 13:11

As i always said - it was never a matter of if, it was simply a matter of when and when seems to be arriving now.

Friday at 11:44

@BackyardBullion

Friday at 11:32

14 hours ago, CANV said:

lol you think that’s bad. I remember stating adamantly in a pub that that C.D’s would never take off because too many people had record players and wouldn’t change .

You were right - i mean who is using CD's now?

**Derv** · Friday at 09:24

3 hours ago, Bratnia said:

There's been a explosion of manufacturing buildings development across America, fundamentally its seeking to repatriate much of what is presently sourced from China. As part of that high tariffs against Chinese imported stuff will help kick start such domestic production. America is turning Japanese where instead of relying upon others (foreign) purchasing of its Treasury's its central bank will print/buy those bonds. Same as per Japan when large debts are held internally then they're not really a issue, they're just a internal money redistribution political matter.

Deglobalisation. Where capitalism is just used by around 25% of the global population, 75% who might instead align with Russia/China, and barriers between the two - until such time that that large majority without capitalism recognise that they live a relatively poor/low-quality life (but where the Russia/China governance imprisons them into that).

Yes many are starting to realise the benefits that including gold in a portfolio provides and particularly in reflection of more recent world events. Rising demand for gold is a upside price pressure factor. US debt expansion is within 'normal' limits in percentages/exponential terms, and with increased domestic manufacturing stocks might also be expected to do well. Fundamentally things are OK, just continue to buy/hold a combination/blend of both stocks and gold.

The politicians talk about repatriating production back into the US - we heard that back in 2016. It didn't happen. It's an election year so they say these things and it doesn't happen. They can't even keep the streets clean in US cities let alone recreate their manufacturing base. Where are the $trillions of investment going to come from? If it were all so easy why hasn't it been done already? Politicians, even the ones in power say they will make things so much better - well why haven't they done that already. They won't and they can't - it is all a lie. The best they do is talk about Green Energy to combat Climate Change. There is no Climate Change - Green Energy is neither Green nor sustainable. More lies. More delusionary talk from the clueless and the criminals.

Foreigners haven't been buying US Treasures for the best part of 10 years. The ESF is buying Treasuries and stuffing them into offshore accounts. They have sought to hide the loss of confidence in the USD and global de-dollarisation this way but it is getting all too obvious.

The West is collapsing. We are in a semi-Marxist state. We are drowning in Leftist propaganda. The majority of the population has been multiply injected with genetic engineering poison. The diet is full of seed oils and empty calories which is slowing killing the people. The West is way below replacement levels of new population; demoralised and sterilised with COVID injections, microplastics and oestrogens in the water as well as being flooded with foreigners. The cost of living is soaring. When i compare the situation with when i was starting out in the 1980's the situation is pitiful. When my schoolmates left school in the 1970's they all could get a job - they all got apprentice type jobs. People with a reasonable job could afford to buy a house. My grandfathers supported a house, car, wife and family on their incomes. This is now only a dream, beyond a dream for most people these days. The very reason people are cheering on the GBP price of gold is because Sterling is collapsing.

We are not in some sort of capitalist eutopia. This doesn't exist outside the pages of rags like the Daily Express. We are in a failed state. This is why we are stacking precious metal and hunkering down - we know it isn't going to get better and likely is only going to get worse. I am being honest about the situation - the future is no longer in the West - those days of empire are long gone.

**Spyder** · May 16

17 minutes ago, kimchi said:

Nope - they've changed it. You now need photo ID to get your paper. At that point you've already consented, and you have chosen to enter the belly of the beast already on their terms.

Gold is looking good though!

No.
They gave you the paper to make your choice of candidates - those were the terms - but there were no candidates you wanted - so you made your choice - None of the above - I do not consent.

We need to forget this shLt where we imagine these conts are all powerful. Their power is derived from us, they have nothing otherwise. It's all over once the people unite and withdraw consent. This is why they constantly try to divide us so we don't unite. This is what political parties are about - dividing us, setting one against the other when in reality there is no choice. But i made MY choice which was not to choose any of them - it was to clearly say, i do not consent. People give them power but i do not consent. I will give them as little as possible. i give none of them my authority to govern me.

**Roy** · May 16

57 minutes ago, Roy said:

Yes, I'm just poking fun at myself 😇

I've been a silver basher and a crypto basher and been proven wrong on both occasions 😂

@sixgun's 'friend' has always been committed to silver and it looks like it's paying off 👍

But with all your travels Roy, would silver have worked for you? Well it might have if you have bought KAG back in the day and then you would have also avoided losing it like me in a tragic boating accident.

**HonestMoneyGoldSilver** · May 16

5 minutes ago, Roy said:

'Regrets, I've had a few....'

@sixgun, I think you know a guy who holds a lot of silver?

Before the accident, that is.

Has he done well by holding?

i think both of us are aware of a guy who holds a lot of silver - he might have had 100's of kilos until it was all lost in that tragic boating accident. It makes me weep thinking about that accident.

**HonestMoneyGoldSilver** · May 16

26 minutes ago, Bratnia said:

Wouldn't gain any traction, are just read out as part of declaration and ... forgotten. As our abstentions just ignored.

All votes are logged. When you initially arrive the first person checks your ID and then passes a number to the next person so your numbered ID is associated with the numbered ballot paper you are allocated. After the election the ballots are bagged and stored, supposedly securely, but all too easy for those details to be data input into the state 'security systems' alongside all of the other profiling/records that are logged/recorded (movements/geolocation, financial transactions, calls, internet activities etc.). As are postal votes not checked to ensure they were cast freely by each individual, some communities process such votes. A pretense of a democracy but in name only.

Yes the last time i went to the polling station i watched what they did with my slip, the register and the numbers - on the fly i worked out they could if they were interested work out the ballot slip was mine. I confronted the people there - i asked if my vote was confidential; of course they said it was. I then showed how it wasn't. The guy in charge actually realised it wasn't and seemed a bit shocked and said he had never realised this - i actually believe he didn't realise. So i said i couldn't vote if it wasn't confidential and walked out. Now the reason it was important to be confidential wasn't because i cared if anyone knew who i voted for - i couldn't careless even if i had been voting for the National Front or whoever. No that wasn't my issue. My issue was i was going to doodle obscenities on the slip telling them what i thought. The polling station was on my street so it was no trouble to stroll on down hence i did but i was too much of a coward to risk my identity being discovered and as i had no intention of actually casting my vote for any candidate i made a scene and walked out. So what you say i have known for years.

However i would say if you don't vote 'I do not consent', then don't imagine you have actually objected to the system. By not voting you have agreed to the system - you have aided the continuance of this Ponzi sham. Your silence is consent. i could not give a fcuk about a no consent vote of mine being identified. i would wear it as a badge of honour. Now let's imagine 20% of people turned out to cast a vote - that is not unreasonable to imagine these days and 90% of those who did turn out put I do not consent. They would have to record and declare that 90% of those voting have withdrawn their consent. Remember, they govern by consent and they don't have consent to govern. To imagine it would be a non event is not true. It would create a legal drama and a half and put a bomb under their arses.

**Gruff** · May 16

7 minutes ago, Bratnia said:

Given a certainty of either Blue Labour or Red Labour I suspect many wont vote and some will instead opt for the Slovak style. Already many are opting to leave politics in consideration of the risks to their families/themselves. Personally I wouldn't vote for anyone dumb enough to stand - primarily they're just in it for themselves (all of the business bribes etc.). Standard practice that they near all double up the MP's salary via 'expenses'.

So if you wouldn't vote for any candidate, turn out and put 'I do not consent' across the paper.

**HonestMoneyGoldSilver** · May 16

52 minutes ago, silversky said:

Sadly a vote for Liebour is a requirement unless a real option outside the main uniparty candidates presents itself.

The only vote is - I DO NOT CONSENT.

These so-called spoilt ballots are counted. They are declared. The people in Parliament are there on our say so, they represent us, they act on our behalf - i know they don't, i know they think they are in charge and have power; they think Parliament is sovereign (which it isn't - the people are sovereign). If we do not consent, we have said none of the above can represent us. If a big chunk of people who cast their votes, voted 'I do not consent', it would upend the apple cart. Staying at home does not count, that is consent to the current system. The psychopaths driving the world deeper into the cesspit can only do this b/c people don't dig their heels in. Don't ever think any of them will be able to do anything positive for us.

Come on, who amongst us actually wants any of the candidates? They are either criminals, spineless or clueless - they all fall into one or more of these three categories. We know this - none of them will do what is needed. There are a very few like Andrew Bridgend who have balls but the rest are soy boy eunuchs. So talking about any of the parties is going along with this circus of psychopaths and clowns. Ditching fiat for gold and silver is a form of I DO NOT CONSENT. Refusing to get involved with those injections is another form. Refusing to accept the shilt from the controlled media, another form. Not accepting the lies spouted about historic events i cannot talk about here - another form and so it goes on.

**Hardcoregeneral** · May 12

11 minutes ago, HonestMoneyGoldSilver said:

Different bars, obviously 😂

Do you have a rough idea of the year?

No proper idea - the swatika having been demonised by the usual suspects is unlikely to appear on bars in recent years - i see this Worthpoint page where they are suggesting a similar looking bar is from the 1930's.

https://www.worthpoint.com/worthopedia/vintage-bharat-traders-bombay-50-gram-496642011

**HonestMoneyGoldSilver** · May 12

15 minutes ago, HonestMoneyGoldSilver said:

Do you have any idea what year this is? interesting bar

(I can't stop laughing that @sixgun is lurking in the background)

I did research this Bharat Traders silver bar when it appeared - i gave it consideration.

Are you referring to my interest in different bars or the ancient Aryan symbolism?

**CowPat** · May 9

Who set the market value at the time of death? If the property were sold shortly afterwards the sale price was clearly the market value b/c that would be what it sold for. Shouldn't really be any tax to pay especially as there will be selling costs.

She should have moved into the house for a few weeks and then sold it. No CGT then. It would be moved into at the value it was inherited at, even if that were an artificially low value and then sold it at whatever value you can get. Sell it tax free and move back into your previous house.

**stefffana** · May 6

If you are trying to promote your youtube channel you should post the link to it on your profile page. https://www.youtube.com/@cultureofcurrency
I am not sure you can post it in your signature on posts - well i am pretty sure you can't with your level of membership but you could post it at the end of your posts.

There's no fear of silver on TSF. There's no fear in this pirate's heart - simply eternal optimism which some have called delusionary in the bleak days of silver during the mid-teens of this century.

**Gruff** · May 4

12 hours ago, Gruff said:

Clear as mud right? Right?!

This muppet works for Bidet, sorry I mean Biden

I think you mean Brandon.

**Gruff** · May 3

This video applies to most of the fiat currencies - that it is about the USD isn't relevant.

I am sure the people from the BoE would be able to spin a better reply though - this is beyond pathetic.

May 1

18 minutes ago, TheShinyStuff said:

As you can see in the pic above, the loop was on a strip that was presumably folded around the rim of the bar - so easily removable with no damage. I'm 99.9% sure it's the same bar.

Yes - now i see what is going on. It will be the same basic bar.

**James32** · May 1

Edit - see the following 2 posts - the pendant and bar are the same.
Well the ingot posted for sale here isn't listed on https://allengelhard.com/ - the pendant is very similar but it is not the same - this isn't an ingot which had the loop removed - the edge of the ingot is complete whereas it isn't in the pendant version.

No idea how many of these there are - there could be a lot more as i expect the pendant would be unusual but there again if the bar were commoner you might expect it to be listed. Either way i missed this one. I had to take a rental car back and was fussing about that so i wasn't paying attention and missed by a few minutes. Having sad that the bar would have just gone in a box and then into my coffin or someone else would have got it on my demise and sold it for crack cocaine or something similar perhaps.

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