Which Gold Miners Hold the Most Supply?

www.tickerscores.com Sponsored By TICKERSCORES - WHICH- GOLD MINERS HOLD THE MOST SUPPLY? And which majors and mid-tiers are most likely to look to replenish their reserves? Major and mid-tier gold miners currently hold 54.3% of all gold reserves and resources worldwide. Junior companies and governments hold the rest. Junior Miners & Governments 45.7% Total Ounces 1.70 Billion oz Majors & # of Deposits (1 million oz +) 386 Mid-Tiers GOLD RESERVES 54.3% & RESOURCES WORLDWIDE Includes companies with over 20 million oz of gold and at least one producing mine. Total Ounces Total 2.02 Billion oz Total Ounces # of Deposits (1 million oz +) 194 3.72 Billion oz # of Deposits (1 million oz +) 580 Though the majors and mid-tiers hold most of the big deposits, 71.3% of these gold ounces are contained in projects already in production: 1.44 1.5 Billion oz 1.2 This means that majors and mid-tiers have less than 30% of their total reserves and resources contained in 09 UNDEVELOPED PROJECTS. 0.58 Billion oz 0.6 0.3 0.0 Producing Undeveloped On average, while each undeveloped project is slightly HIGHER GRADE, they contain less overall gold. Average Grade: 1.11 g/t Average Grade: 1.27 g/t smaller than the gold mines On average, each project in the pipeline is 38% currently in production Average Project in Pipeline Average Current Mine Average 7.6 Million oz 12.2 Million oz Deposit Size: 76 Number of 118 Deposits (1mm+): 1.27 g/t 1.11 g/t Average Grade: PRODUCING MINES UNDEVELOPED DEPOSITS Held by major or mid-tier gold miners Further, many of these new undeveloped projects may run into issues with governments or may never pass permitting. As just one example, The Pebble Project, one of the world's biggest undeveloped copper and gold projects, is currently stalled by the EPA and may never get built. Pebble Mine #1 gold deposit in the world: 107 million oz This leaves even less gold in the pipeline. So what is the average project not owned by majors and mid-tiers like? Overall, there are many projects, but these are smaller in scale and a much lower grade. About 80% of these projects are undeveloped, and 20% are already in production. Junior Miners Average Deposit Size: 4.4 Million oz 386 Number of Deposits (1mm+): 0.88 g/t Average Grade: 300 250 WHO HAS THE MOST 200 GOLD? 150 100 GOLD OUNCES (UNDEVELOPED) 50 GOLD OUNCES (IN PRODUCTION) BARRICK ANGLOGOLD ASHANTI POLYUS GOLD NEWCREST NEWMONT GOLD FIELDS HARMONY GOLD GOLDCORP KINROSS FREEPORT-MCMORAN AGNICO EAGLE TURQUOISE HILL RESOURCES ELDORADO RANDGOLD NEWGOLD ALLIED NEVADA GOLD GOLD ONE INTERNATIONAL .5g/t YAMANA PAN AFRICAN RESOURCES 1g/t IAMGOLD AVERAGE GRADE (IN PRODUCTION AND UNDEVELOPED) DETOUR GOLD 2g/t PETROPAVLOVSK OSISKO 3g/t 4g/t MEAN GRADE 1.15 g/t 29/t In light of Goldcorp's offer in January to buy Osisko for $2.6 billion, here are four other companies that will need to find a way to boost their asset base: Newcrest Mining, Gold Fields, Newmont, and Kinross Gold. WHICH MINERS NEED TO ADD NEW Resources in Production Resources in Pipeline RESERVES? Newcrest (ASX: NCM) 14% Cash: $69 Million Avg. grade of pipeline: 0.86 g/t| 86% *Note: Cash position as of June 2013 Gold Fields (NYSE: GFI) 11% Cash: $1.2 Billion Avg. grade of pipeline: 0.63 g/t 89% Newmont (NYSE: NEM) 22% Cash: $1.5 Billion Avg. grade of pipeline: 1.02 g/t 78% Kinross Gold (NYSE: KGC) 34% Cash: $950 Million Avg. grade of pipeline: 1.12 g/t 66% *Note: The recent writedown of the Tasiast project may make Kinross wary of M&A for the time being. M&A will play an inevitable role in any sort of recovery for the gold sector. With company valuations at the lowest they have been in five years, the opportunity is there for majors to save big money on quality assets that can help fuel future growth. STICKERSCORES STIEKERSCORE Sponsored By CTICKERSCORES Compare over 400 precious metals stocks head-to-head www.tickerscores.com VISUAL CAPITALIST Educating a new generation of investors on resource investing VISUAL CAPITALIST and management www.visualcapitalist.com http://www.visualcapitalist.com/global-gold-mine-and-deposit-rankings-2013 http://www.visualcapitalist.com/wp-content/uploads/2013/11/global-gold-mine-and-deposit-rankings-2013.pdf Sources: *************....> .............