POYYF - Gold Miners Recorded Record High Margins In 2020

• For every ounce of gold a mining company produced in 2020, it got to pocket $828 on average. Much higher than the previous record of $666 set in 2011.
• Exploration spending in the goldfield rose about 1.2% from 2019 levels, to end at $4.34 billion.
• The producer with the world’s lowest cost per ounce in 2020 was Polyus. The Russian miner’s AISC was only $604/oz.
• Franco-Nevada reported phenomenal 2020 results: record revenue of $1 billion, record net income of $326 million and record cashflow of $840 million.

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