Despite representing the world's industry trade group of miners, apparently no one at GFMS actually knows anything about the gold mining industry. If they did, they would have noted the miners are in the midst of their second severe depression in five years -- in the midst of the longest/strongest bull-market in history.
Yet, incredibly, after noting that net mine supply has now actually started to decline, we have these propagandists stating:
The recent growth in mine production stalled during the second quarter of this year as recent increases in supply from new operations reached a plateau. Mine production is likely to remain in a consolidation phase for the remainder of 2012 ahead of a further raft of new operations, scheduled to come online next year.
Gold mine production was further constrained by a combination of adverse weather conditions, production interruptions at a number of operations and slower ramping up of production at a number of mines...
Apparently GFMS is capable of seeing anything and everything that affects mine supply -- except the severe depression currently gripping the entire mining industry. I wonder why that is?
Could it have anything to do with the fact that the current "depression" being experienced by these gold miners is entirely due to the extreme/rampant manipulation of the share prices of these miners by the banking cabal?
How else do we explain the share prices of these miners collapsing by well over 50% across the board, in a bull market which requires constantly rising prices merely to maintain equilibrium?
Remaining willfully blind to the banker-created depression in this sector, we have GFMS (and the WGC) predicting a rebound in mine supply next year because of "a further raft of operations scheduled to come online next year." These propagandists have the audacity to make that assertion immediately before noting that currently most project-development is running well behind schedule -- due to the severe depression that is completely invisible to GFMS.
In fact, with the junior miners who are the lifeblood of the industry and responsible for well over 90% of all new gold deposits discovered in the world, it would take at least a year of strongly rising gold prices to break through the rampant share-price manipulation of the banking cabal so that these companies can properly function again.
In other words, the implication of GFMS that these miners can simply "turn on" new supply like flicking a switch is totally opposite to the realities of mining -- meaning this consultant hired to represent the world's leading gold miners either knows nothing about this industry or is being intentionally misleading with its analysis.