It pays to find ounces

IT SEEMS gold producers are justified in upping their exploration spends, with new research finding that the financial return from drilling a 1 million ounce gold resource is positive for the first time in three years.

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According to research by Edison Investment Research in London, over the past two years, there had been a 67.4% recovery in the in-situ value of a global average resource ounce, from $US10.