Our principle of “quality versus quantity” is reflected in our resource strategy
- In 2012, we made the strategic decision to hold our gold price assumption at the previous year’s level when calculating our year-end reserve and resource estimates.
- While holding our gold price assumption resulted in reduced 2012 year-end mineral estimates, it targets higher margin ounces with less capital intensity vs. higher cost, lower margin ounces.
- In a lower cost or higher gold price environment, most of these ounces may still be brought back into resources.
See our Mineral Reserve and Mineral Resource Statement (PDF)