Commodity Crash! When Does The Numismatic Value Outweigh Bv?

@dialog_gvf Production costs for mines vary significantly but are usually in the range of $700-$900/oz. So gold still has a long way to fall before they start shutting down production as no longer being cost effectiveness. My understanding is that the concern is the life of the mines owned by the mining companies. I don't remember the exact numbers but say the life of a mine is 20-30 years. So if it's been running for 15 years the company's production could drop off a cliff in as little as five years. The companies aren't finding enough new deposits and opening enough new mines to replace that production. Add in political instability around many of the existing/future mines (the mine may be great find but if the country nationalizes it then the company doesn't get any of the profits) and the risk of the price of gold returning to historical norms and a couple of major missteps by large companies and you can see why they're getting hammered on the stock prices.