'We're not making any more money' - why gold miners are stuck despite all-time metal highs

(Kitco News) - On Friday Kitco Mining Correspondent Paul Harris recorded Digging Deep.

Harris noted that despite the gold prices hitting all-time highs in 2024, the gold miners have not rallied. Year-to-date the gold miners index, the VanEck Gold Miners ETF, is down 3% to $29.60 a share.

Adshead noted that the big, diversified miners have much larger market capitalizations. The gold miners are not keeping pace, because they just don't make the same margins as the large copper and iron ore miners.

"[Gold miners] are not generating huge margins, so they tend to under-perform financially," said Adshead. "I even spoke to a gold company this week and he said: 'Yeah, it's all well and good that [golds at] $2,200 an ounce, but our costs have actually kept pace with the rise in the gold price, so we're not actually making any more money.'"

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Digging Deep is brought to you by Revival Gold. Revival Gold is one of the largest, pure gold, mine developers in the United States. The Company is advancing engineering and economic studies on the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho.

Revival Gold is listed on the TSX Venture Exchange under the ticker symbol "RVG" and trades on the OTCQX Market under the ticker symbol "RVLGF". The Company is headquartered in Toronto, Canada, with its exploration and development office located in Salmon, Idaho.

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