Newcrest mines may put 3 austra-asian mines in caretaker mode if gold does not pick up.

Plus trying to makes savings of 6 billion this year. Brisbane office closing in 3 weeks and others shortly. Anyone heard whispers Telfer may go into caretaker and care and maintenance soon......

IF GOLD DIPS BELOW $800 Telfer will shut doors I reckon...

regards
oneday

Oneday they reckon Telfers cost have really blown out in the last couple of years. plus lihir and a few others.

I heard that Focus minerals down Laverton way its costs had blown out at one mine and processing plant to close to $2300 a ounce thus the reason its in caretaker now.

whispers are telfer cost in the vicinity of $1200 now..

Newcrest shares down 20% this week alone and down 7.6% roughly today.

Something is up..... and its not looking good at the moment....

this is what u get when mining companys play a very dangerous game in poaching workers--at the end of the day the FIFO to the eastern states is really on the nose as costs are unsustainable..and I don't give a rats about these big companies as its made life really hard for the small businessman in the towns were they operate.
have a few mates that were FIFO on a week on week off..4 shite sake get real--then they got 6 weeks annual leave..thank god that system has fallen in a screamin heap..
I still remember when u had to work at least 6 months befor u had a week of..

regards
oneday

Last Friday I caught up with a mate who works for Barricks and he was worried. I wonder why. He's probably looking for a new job now.

They laid off 22 workers yesterday at the Kalgoorlie-Boulder mine. Barrick that is and closing their green fields department at Perth. Moving it to Canada.

no one wants any person to loose their jobs but the current mining environment with FIFO wages, cost of native title payments and red tape such as JSA's and permit system was always destined to self destruct, i believe that it is a ridiculous situation, and a slap in the face for all the old tradies that built this country that a kid with no real experience can just get a licence to push buttons and get up north earning $100k plus, IMO
you use to be able to go to work for 10 hrs and get at least 81/2 to 91/2 hrs of work in, if i wanted to drive a truck for a load of sand or operate a backhoe and had a licence if required for it i would just do it, now you lose half a day waiting for some one to sign off on the permits and to read your JSA etc, its a sorry state of affairs that i got out of early seeing the writing on the wall years ago. no wonder mining cannot be sustainable with costs to make an oz 40% higher than its value.
anyway, so with all these mines potentially closing is that good or bad for the hobbyist? i mean wont the closing of big companies open up land currently under tenement or stop further applications or progress of applications.
navigator mining for example has leases coming up for renewing soon so if they expire cant they then be pegged by anyone?

short answer to your question martin is Yes.
But trust me u will have to be out in the paddock with 3 other blokes with pickets and hammers in hand to beat everyone else that are thinking the same way..

This one is going to be interesting to see what eventuates..I know of quite a few people who are looking at the same deal..do ya homework and be thoroughly organised otherwise u will miss out...

Good luck

regards
oneday