from Clive Thompson:

Precious Metals Mining Profits Set to Rise by HUNDREDS of Percent – Analyst’s Forecasts Are Obsolete

Precious Metals Mining Profits Are Set to Rise by HUNDREDS of Percent — Analyst Forecasts Are Obsolete. Mining companies are still reporting earnings based on Q3 average selling prices — $3,148 for gold and $38.93 for silver. Gold is now $2000 an ounce higher at above $5,000. Gold mning companies are making an extra $2000 an ounce of profit. Just think. If they were previously making $1000 an oiunce profit. Now its $3000, 3x as much. Story gets even better with silver miners. Silver more than $50 higher than the average selling price in the September quarter. The profit increases heading down the pipeline are not 50% or even 100% — they are potentially hundreds of percent. And most analyst models haven’t even begun to reflect this.