Nordgold: All-In Sustaining Costs
Lipson, Marc L.
Nordgold: All-In Sustaining Costs
C-2412 | Published August 15, 2018 | 13 pages Case
Collection: Darden School of Business
Product Details
Understanding the economics of gold mining had always been a challenge. Gold mines were long-lived assets that required substantial capital investments both to identify and gain access to mineral ore for future processing and to sustain output over the life of a mine. A typical investor might have looked at annual operating margins alone, ignoring these capital outlays, and set unrealistic return expectations. When firms fell short of these expectations, investors were perplexed and took a negative stance regarding the industry.
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