Is The Supply Of Gold Depleting? [zero hedge]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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US:NYSE Investor Relations:
newmont.com/investor-relations/default.aspx
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Source: zero hedge
Authored by Lawrence Thomas via GoldTelegraph.com,The demand for gold is increasing, yet new discoveries of the precious metal have not kept pace with the demand. Funds for exploration are historically high, $54.3 billion, up 60 percent over the past 18 years.The increased spending, however, has not produced the equivalent in new gold discoveries. During the past decade, 41 discoveries have resulted in a mere 215.5 million ounces of the precious metal. Even counting recently discovered but unexplored mines, which may hold as-yet major discoveries, the total available amount of gold in these discoveries are not expected to surpass 363 million ounces over the next ten years.Gold discoveries have followed a predictable pattern. 263 major gold discoveries have been made in the past 28 years, but half of those discoveries happened in the 1990s. This boom lasted until the turn of the century when the rate of discovery began to decline. Only 16 discoveries were reported from 2000 to 2002, wh
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NEM
Earnings
- 2/22/24 - In-Line
NEM
Sec Filings
- 4/12/24 - Form DEFA14A
- 4/5/24 - Form DEFA14A
- 3/19/24 - Form 3
- NEM's page on the SEC website