“I’ve been in the investment world a long time and I know that things can stay below the cost of production for years. It takes a long time for people to believe they have to close their mines. It costs money to close a mine, it costs money to re-open a mine, so people are reluctant to close mines. So you can see any commodity staying below the cost of production for a while, especially if it’s something like a mine which is expensive to close, and expensive to open. Some people are not going to be able to open mines because of what’s happened. But then you’re going to eventually have people close mines, and eventually, like I said it’s going to work its way out.”
http://www.businessinsider.com/jim-rogers-gold-miners-2013-7
Related posts:
Parents patrol immigrant suburbs to deter Stockholm youth from rioting
Northern California counties revive an old idea for a breakaway state
Police Chief Caught On Video Assaulting Shackled Inmate
Facebook Must Face Gambit Suit Over Social Game Currency
Contactless cards' cash limits inop; can be skimmed with nearby phone
Milwaukee Police Officer Richard Schoen punches woman, fired and then re-hired
Why China wants to dominate Bitcoin
Vicco to consider paying police chief in Bitcoin
Egyptian iron artifacts, earliest ever found, made from meteorite
Guardian teams up with New York Times over Snowden documents
Political Shifts in Bavaria Could Have Wide Repercussions
Coming: A "Medicare Tax" If You Sell Your Property
Well Educated Young Spaniards Move Back In With Parents
Hungarian savers say government is stealing their pensions
Southwest flight diverted to Phoenix due to bomb threat