PRECIOUS METALS

North American mid-tiers struggle despite rising gold prices

Canada-listed mid-tier gold producers have reported an aggregate 1.4 million ounces of production for the first quarter to March 31, an increase of 12.8% over the first quarter of 2019, at an aggregate all-in sustaining cost (AISC) of US$1,050/oz, up 11.1% from $945/oz in the prior year period. However, despite higher gold prices, eight of the 17 companies in this bracket returned net losses.