2020\uff0c1\u670818\u65e5\uff0c\u5927\u96ea\u904e\u5f8c\u7684\u6eab\u54e5\u83ef\uff0c\u96e8\u4e00\u76f4\u5728\u4e0b\uff0c\u4ea4\u901a\u79e9\u5e8f\u4ecd\u672a\u5b8c\u5168\u6062\u5fa9\u3002\u4f46\u662f\uff0c\u9019\u4e00\u5207\u90fd\u6c92\u6709\u963b\u64cb\u524d\u4f86\u53c3\u52a0GCFF\u6eab\u54e5\u83ef\u8cc7\u6e90\u6295\u8cc7\u6703\u5c55\u6295\u8cc7\u8005\u7684\u71b1\u60c5\u3002\u662f\u7684\uff0c\u65b0\u4e00\u8f2a\u7926\u7522\u725b\u5e02\u78ba\u5be6\u4f86\u4e86\u3002<\/p>\n
\u53c3\u52a0\u672c\u6b21\u6295\u8cc7\u6703\u5c55\u7684\u4f01\u696d\u5305\u62ec\u9ec3\u91d1\u3001\u7a00\u571f\u3001\u9285\u3001\u92c5\u3001\u4ee5\u53ca\u7389\u77f3\u7b49\u591a\u7a2e\u7926\u7522\u4e0a\u5e02\u516c\u53f8\u3002<\/p>\n
\u5f9e\u6211\u5011\u7684\u8abf\u67e5\u53cd\u994b\u4f86\u770b\uff0c\u5927\u591a\u6578\u6295\u8cc7\u8005\u6700\u611f\u8208\u8da3\u7684\u4f9d\u7136\u662f\u9ec3\u91d1\u53ca\u8cb4\u91d1\u5c6c\u9805\u76ee\uff0c\u7576\u7136\u4e5f\u56e0\u6b64\u5c0d\u5176\u4ed6\u7926\u7522\u7522\u751f\u8208\u8da3\u3002\u9019\u8207\u7926\u7522\u50f9\u683c\u8d70\u52e2\u57fa\u672c\u4e00\u81f4\u3002<\/p>\n
\u901a\u5e38\u5728\u7926\u696d\u725b\u5e02\u4e2d\uff0c\u9ec3\u91d1\u6703\u4e00\u76f4\u8655\u65bc\u9818\u6f32\u5730\u4f4d\uff0c\u800c\u5176\u4ed6\u5982\u57fa\u672c\u91d1\u5c6c\u7b49\u7926\u7a2e\u50f9\u683c\u4e5f\u6703\u8ddf\u96a8\u4e0a\u6f32\u3002\u6b64\u8f2a\u7684\u7926\u7522\u725b\u5e02\uff0c\u540c\u6a23\u662f\u9ec3\u91d1\u7387\u5148\u958b\u555f\u7684\u3002 NAI\u5317\u7f8e\u6295\u8cc7\u8a0a\u606f\u6709\u9650\u516c\u53f8\u7e3d\u88c1Gilbert Chan\u9673\u5fb7\u4f73\u5148\u751f\u7684\u6f14\u8b1b\u6b63\u662f\u5f9e\u9ec3\u91d1\u7684\u8d85\u5f37\u8d70\u52e2\u958b\u59cb\uff0c\u63a8\u65b7\u51fa\u65b0\u4e00\u8f2a\u7926\u696d\u884c\u60c5\u6b63\u5728\u555f\u52d5\u3002<\/p>\n
\u9673\u5fb7\u4f73\u5148\u751f\u5728\u7926\u7522\u80fd\u6e90\u6295\u8cc7\u9818\u57df\u7d93\u71df\u4e86\u8fd120\u5e74\uff0c\u5c08\u696d\u77e5\u8b58\u6975\u5176\u8c50\u5bcc\uff0c\u6b77\u7d93\u5b8c\u6574\u7684\u5468\u671f\uff0c\u5c0d\u5168\u7403\u7926\u696d\u6295\u8cc7\u3001\u5c24\u5176\u662f\u52a0\u62ff\u5927\u7926\u696d\u7522\u696d\u975e\u5e38\u719f\u6089\u3002<\/p>\n
\u7d93\u6b77\u904e\u5e02\u5834\u7684\u5927\u8d77\u5927\u843d\uff0c\u9762\u5c0d\u65b0\u884c\u60c5\uff0c\u9673\u5fb7\u4f73\u5df2\u7d93\u975e\u5e38\u51b7\u975c\uff0c\u4ed6\u544a\u8a34\u73fe\u5834\u7684\u6295\u8cc7\u8005\uff0c\u4e00\u5b9a\u8981\u5f9e\u904e\u53bb\u7684\u5e02\u5834\u6f32\u8dcc\u4e2d\u5438\u53d6\u7d93\u9a57\u6559\u8a13\uff0c\u624d\u80fd\u6536\u7a6b\u725b\u5e02\u5229\u6f64\u3002<\/p>\n
\u5982\u679c\u6c92\u6709\u76f8\u95dc\u77e5\u8b58\u5132\u5099\uff0c\u771f\u6b63\u4e86\u89e3\u4e00\u5bb6\u7926\u696d\u516c\u53f8\u904b\u71df\u60c5\u6cc1\u4e26\u4e0d\u5bb9\u6613\uff0c\u4e00\u4e0d\u5c0f\u5fc3\u5c31\u5165\u5751\u6210\u97ed\u83dc\u4e86\u3002<\/p>\n
\u5728\u6295\u8cc7\u6703\u5c55\u7684\u73fe\u5834\u6f14\u8b1b\u4e2d\uff0c\u9673\u5fb7\u4f73\u5148\u751f\u6839\u64da\u4ed6\u591a\u5e74\u7684\u5e02\u5834\u7d93\u9a57\uff0c\u7c21\u660e\u627c\u8981\u5730\u70ba\u5927\u5bb6\u7e3d\u7d50\u4e86\u5e7e\u5927\u5f88\u5be6\u7528\u7684\u6295\u8cc7\u8981\u9ede\uff1a<\/p>\n
2014\u5e741\u6708\u8d77\uff0c\u4e16\u754c\u9ec3\u91d1\u5354\u6703\u5efa\u8b70\u5168\u7403\u91d1\u7926\u7926\u696d\u516c\u53f8\u5831\u544a\u5176\u7dad\u6301\u904b\u71df\u6210\u672c\uff08All-In Sustaining Costs- AISC\uff09\u3002\u5728\u6b64\u4e4b\u524d\uff0c\u516c\u53f8\u90fd\u662f\u6309\u7167\u73fe\u91d1\u6210\u672c\uff08Cash Cost\uff09\u4f86\u9032\u884c\u516c\u958b\u5ba3\u50b3\u7684\u3002<\/p>\n
\u4ee5\u91d1\u7926\u70ba\u4f8b\uff0c\u5728\u540c\u4e00\u9805\u76ee\u4e0b\uff0cAISC\u6bd4Cash Cost\u4e00\u822c\u9ad8\u7d04300-400\u7f8e\u5143\/\u76ce\u53f8\u3002\u6295\u8cc7\u8005\u4e00\u5b9a\u8981\u641e\u6e05\u695a\u9019\u4e00\u9ede\u3002<\/p>\n
\u5c0d\u516c\u53f8\u7ba1\u7406\u5718\u968a\u53ca\u5730\u8cea\u5e2b\u6709\u6df1\u5165\u7684\u4e86\u89e3<\/p>\n
\u597d\u7684\u7ba1\u7406\u5718\u968a\u975e\u5e38\u7a00\u5c11\uff0c\u6709\u4e00\u4e9b\u540d\u6c23\u4e0d\u5927\u6216\u8005\u8f03\u70ba\u65b0\u8208\u7684\u7ba1\u7406\u5718\u968a\u4e0d\u4e00\u5b9a\u5f88\u5dee\u3002\u597d\u7684\u7ba1\u7406\u5718\u968a\u81f3\u5c11\u5305\u62ec\u5177\u5099\u6280\u8853\u3001\u91d1\u878d\u548c\u9805\u76ee\u7ba1\u7406\u5c08\u9577\u7684\u4eba\u624d\uff0c\u8981\u591a\u4e86\u89e3\u4ed6\u5011\u7684\u80cc\u666f\u548c\u7d93\u9a57\u3002<\/p>\n
\u66f4\u70ba\u7c21\u55ae\u7684\u65b9\u6cd5\uff0c\u8981\u6e05\u695a\u5167\u90e8\u7ba1\u7406\u4eba\u54e1\u7684\u6301\u80a1\u60c5\u6cc1\uff0c\u53ef\u4ee5\u5224\u65b7\u4ed6\u5011\u5c0d\u516c\u53f8\u524d\u666f\u7684\u4fe1\u5fc3\u3002\u6295\u8cc7\u8005\u9084\u8981\u4e86\u89e3\u7ba1\u7406\u5718\u968a\u5de5\u4f5c\u4e2d\u7684\u6d88\u8cbb\u7fd2\u6163\uff0c\u6bd4\u5982\u83ef\u9e97\u7684\u8fa6\u516c\u5ba4\uff0c\u5962\u4f88\u7684\u516c\u52d9\u65c5\u884c\uff0c\u90fd\u6703\u7d66\u516c\u53f8\u589e\u6dfb\u6210\u672c\u3002<\/p>\n
\u76f8\u6bd4\u6c92\u6709\u4efb\u4f55\u6b77\u53f2\u6578\u64da\u53ef\u4ee5\u53c3\u8003\u7684\u65b0\u7926\u5340\uff0c\u6210\u719f\u7926\u5340\u52d8\u63a2\u6210\u529f\u7684\u6a5f\u7387\u8981\u9ad8\u5f88\u591a\u3002\u7576\u7136\uff0c\u4e5f\u53ea\u662f\u6a5f\u7387\u76f8\u5c0d\u8f03\u9ad8\u800c\u5df2\uff1b\u53e6\u5916\u4e00\u65b9\u9762\uff0c\u65b0\u7926\u5340\u53ef\u80fd\u6703\u56e0\u70ba\u52d8\u63a2\u7d50\u679c\u597d\uff0c\u50f9\u503c\u8fc5\u901f\u63d0\u5347\u3002<\/p>\n
\u6295\u8cc7\u8005\u4e00\u5b9a\u8981\u7262\u8a18\u7684\u662f\uff0c\u5f9e\u7926\u5340\u7684\u63a1\u6a23\u52d8\u63a2\u5230\u6700\u7d42\u7684\u7926\u7522\u51fa\u54c1\u4e4b\u9593\u975e\u5e38\u9059\u9060\uff0c\u6700\u7d42\u5be6\u73fe\u6210\u529f\u7684\u6bd4\u4f8b\u975e\u5e38\u4e4b\u4f4e\uff0c\u4f46\u4e0d\u59a8\u7919\u6211\u5011\u901a\u904e\u6b77\u53f2\u6578\u64da\u548c\u9810\u5224\uff0c\u5c0b\u627e\u8cb7\u8ce3\u9ede\u3002<\/p>\n
\u5728\u6211\u5011\u65e9\u524d\u7684\u6587\u7ae0\u4e2d\uff0c\u66fe\u7d93\u591a\u6b21\u63d0\u5230\uff0c\u6295\u8cc7\u521d\u7d1a\u7926\u696d\u4f01\u696d\u98a8\u96aa\u5de8\u5927\uff0c\u66f4\u5177\u6295\u6a5f\u6027\uff0c\u4e00\u5b9a\u8981\u63a7\u5236\u5009\u4f4d\u3002\u6295\u6a5f\u6709\u6280\u8853\uff0c\u8981\u5728\u6d88\u606f\u8b49\u5be6\u524d\u8cb7\u9032\uff0c\u8b49\u5be6\u5f8c\u8ce3\u51fa\uff0c\u5343\u842c\u4e0d\u8981\u78b0\u50f9\u683c\u5df2\u7d93\u6f32\u5f97\u5f88\u591a\u7684\u80a1\u7968\u3002<\/p>\n
\u540c\u6642\uff0c\u8981\u4e0d\u5fd8\u6295\u8cc7\u6642\u7684\u4fe1\u5ff5\uff0c\u5982\u679c\u4fe1\u5ff5\u6d88\u5931\uff0c\u4e00\u5b9a\u679c\u65b7\u9000\u51fa\u3002\u6bd4\u5982\uff0c\u56e0\u70ba\u770b\u597d\u67d0\u516c\u53f8\u7684\u9285\u9805\u76ee\u800c\u8cb7\u9032\uff0c\u7d50\u679c\u947d\u63a2\u4e26\u672a\u8b49\u5be6\u4e4b\u524d\u597d\u7684\u9810\u671f\uff0c\u90a3\u9ebc\uff0c\u5373\u4fbf\u8a72\u516c\u53f8\u65d7\u4e0b\u9084\u6709\u5176\u4ed6\u4e0d\u932f\u7684\u9805\u76ee\uff0c\u4e5f\u8981\u679c\u65b7\u9000\u51fa\u3002<\/p>\n
\u6309\u7167\u9673\u5fb7\u4f73\u5148\u751f\u591a\u5e74\u7d93\u9a57\u7684\u7e3d\u7d50\uff0c\u5982\u679c\u6c92\u6709\u4e26\u80a1\u60c5\u6cc1\uff0c\u901a\u5e38$1\u7684\u50f9\u683c\u5340\u9593\u5f88\u96e3\u7a81\u7834\u3002<\/p>\n
\u9084\u6709\u591a\u5bb6\u7926\u7522\u516c\u53f8\u7684\u8ca0\u8cac\u4eba\u5728\u6703\u5c55\u4e0a\u6f14\u8b1b\uff0c\u8a73\u7d30\u4ecb\u7d39\u81ea\u5bb6\u516c\u53f8\u9805\u76ee\u7684\u9032\u5c55\u60c5\u6cc1\uff0c\u6709\u4e86\u9019\u4e9b\u4fe1\u606f\uff0c\u6295\u8cc7\u8005\u53ef\u4ee5\u505a\u51fa\u66f4\u70ba\u6e05\u6670\u7684\u8a8d\u77e5\u5224\u65b7\u3002<\/p>\n
\u958b\u5275\u4e86\u5168\u65b0\u5546\u696d\u6a21\u5f0f\u7684\u8cb4\u91d1\u5c6c\u516c\u53f8Wheaton Precious Corp.\uff08TSE:WPM\uff09\u53d7\u5230\u4e86\u5168\u5834\u6295\u8cc7\u8005\u7684\u71b1\u6367\uff0c\u53d7\u76ca\u65bc\u9ec3\u91d1\u3001\u767d\u9280\u50f9\u683c\u7684\u4e0a\u63da\uff0c\u904e\u53bb\u4e00\u5e74\uff0c\u9019\u5bb6\u516c\u53f8\u7684\u80a1\u50f9\u4e5f\u5be6\u73fe\u4e86\u5927\u5e45\u63d0\u5347\u3002<\/p>\n
![\"\"](\"https:\/\/nai500.com\/wp-content\/uploads\/2020\/01\/gcff-recap-300x195.jpg\")
Wheaton\u8cb4\u91d1\u5c6c\u516c\u53f8\u7e3d\u88c1\u517c\u9996\u5e2d\u57f7\u884c\u5b98Randy Smallwood\u5728\u6703\u5c55\u6f14\u8b1b\u4e2d\u8a73\u7d30\u95e1\u8ff0\u4e86\u516c\u53f8\u7368\u7279\u7684\u8cb4\u91d1\u5c6c\u7926\u696d\u6d41\u8f49\u6a21\u5f0f\u4ee5\u53ca\u5176\u512a\u52e2\u6240\u5728\u3002<\/p>\n
Wheaton\u4e0d\u662f\u4e00\u5bb6\u7d14\u7cb9\u7684\u3001\u50b3\u7d71\u7684\u9ec3\u91d1\u3001\u767d\u9280\u958b\u63a1\u516c\u53f8\uff0c\u800c\u662f\u901a\u904e\u9078\u64c7\u5408\u4f5c\u5925\u4f34\uff0c\u9810\u5148\u5411\u5176\u652f\u4ed8\u4e00\u5b9a\u7684\u6b3e\u9805\uff0c\u4f5c\u70ba\u56de\u5831\uff0c\u4ee5\u63d0\u524d\u78ba\u5b9a\u7684\u50f9\u683c\u8cfc\u8cb7\u67d0\u500b\u7926\u5c71\u672a\u4f86\u958b\u91c7\u51fa\u7684\u4e00\u5b9a\u6bd4\u4f8b\u7684\u8cb4\u91d1\u5c6c\u3002<\/p>\n
\u516c\u53f8\u696d\u52d9\u5f9e\u767d\u9280\u8d77\u6b65\uff0c\u96a8\u5f8c\u62d3\u5c55\u81f3\u9ec3\u91d1\uff0c\u5230\u76ee\u524d\uff0c\u516c\u53f8\u7684\u6536\u5165\u4e2d\u9ec3\u91d1\u767d\u9280\u5df2\u7d93\u5be6\u73fe\u5e73\u5206\u79cb\u8272\u3002\u901a\u904e\u9019\u7a2e\u5275\u65b0\u7684\u6a21\u5f0f\uff0cWheaton\u516c\u53f8\u7684\u589e\u9577\u4e00\u76f4\u9818\u5148\u9ec3\u91d1\u767d\u9280\u50f9\u683c\u7684\u8d70\u52e2\uff0c\u70ba\u80a1\u6771\u5e36\u4f86\u4f4e\u98a8\u96aa\u3001\u9ad8\u54c1\u8cea\u3001\u591a\u5143\u5316\u7684\u6295\u8cc7\u56de\u5831\uff0c\u6210\u70ba\u5168\u7403\u6700\u5927\u7684\u8cb4\u91d1\u5c6c\u6d41\u8f49\u516c\u53f8\u3002<\/p>\n
\u96a8\u8457\u9ec3\u91d1\u3001\u767d\u9280\u4e00\u8f2a\u65b0\u725b\u5e02\u7684\u5230\u4f86\uff0cWheaton\u8cb4\u91d1\u5c6c\u516c\u53f8\u6709\u671b\u7372\u5f97\u66f4\u597d\u7684\u696d\u7e3e\uff0c\u503c\u5f97\u6295\u8cc7\u8005\u95dc\u6ce8\u3002<\/p>\n
\u9664\u4e86\u8207\u7926\u696d\u4f01\u696d\u9032\u884c\u9762\u5c0d\u9762\u4ea4\u6d41\uff0c\u5c0d\u65bc\u6703\u5834\u7684\u62bd\u734e\u3001\u4ee5\u53ca\u6cd5\u570b\u54c1\u724c\u5e72\u9091\u751c\u9152Grand Marnier\u8a66\u98f2\u6d3b\u52d5\uff0c\u6295\u8cc7\u8005\u5011\u4e5f\u975e\u5e38\u8e34\u8e8d\u5730\u53c3\u8207\u3002<\/p>\n
![\"Grand](\"https:\/\/nai500.com\/wp-content\/uploads\/2019\/10\/17728-GM-Collins-Eblast-1200x640-TCH-1-1024x546.jpg\")
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