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<p>[QUOTE=&quot;medoraman, post: 1276562, member: 26302&quot;]All good posts. I agree with all three, that variable costs are all that matter really once a mine is in production, all of them have different variable costs, and most new mines and a lot of production is open pit leech fields. </p><p><br /></p><p>Justafarmer touched on another aspect, and that is regulations. One serious downside to closing a facility is you lose grandfather status regarding permitting, something can keep mines open since this is a very serious concern to many operations.</p><p><br /></p><p>I view prices of PM&#039;s today as still high enough to not affect variable profitability. I would say all mines have to be profitable today on a variable cost basis, since prices are still very high historically. I do think the recent silght downturn will be healthy for PM prices because sustained $40 silver and $1900 gold I believe would have seriously driven large amounts of additional production and curtailed usage further.</p><p><br /></p><p>Of course I could be wrong.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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