The Globe and Mail attempts to identify gold producers operating at lower costs in its Friday, Aug. 14, edition. The Globe's Samuel Oubadia writes in the Number Cruncher column that at the current price of gold, it is difficult for many producers to meet their all-in sustaining costs. In fact, many companies are actually losing money and faced with the decision of whether to close certain mines. Mr. Oubadia says he looked for low-cost gold producers that are also trading at attractive valuations. He screened for Canadian gold producers that had a market capitalization of $500-million and higher. He looked at all-in sustaining costs. As a measure of valuation, Mr. Oubadia also considered the forward price-to-earnings ratio and the price-to-book value. He also looked at performance over the past year. Most of the companies in Mr. Oubadia's screen have taken a severe beating over the past year. Stocks that glitter for Mr. Oubadia are Eldorado Gold (with all-in sustaining costs of $729), Lake Shore Gold (sustaining costs of $750), Centerra Gold (sustaining costs of $799), Agnico Eagle Mines (sustaining costs of $804), Semafo (sustaining costs of $805) and Goldcorp (sustaining costs of $880).