World Gold Council Notes on AISCThe “all-in sustaining costs” is an extension of existing “
cash cost” metrics and incorporate costs related to sustaining production. The “all-in costs” includes additional costs which reflect the varying costs of producing
gold over the life-cycle of a mine. It is up to individual companies to determine how they report to the
market and to decide whether their stakeholders will find these new metrics of
value in understanding their businesses; it is expected that, since many companies report on a calendar
year basis, they may choose to use these metrics from 1 January 2014.