The effect of such a dramatic drop in price for miners?

I'm wondering how the impact and speed of such a decline in PM prices will affect the miners, particularly in first world nations with labor costs and other overheads? Surely such a drop would not have been factored in by a lot of miners even those who aren't so highly leveraged. I'm assuming we will see a number of gold and silver mine closing or being liquidated over the next few weeks and months as the impact is felt?

 

Even if we stopped mining silver and gold, this market driven thing would still plod and plunder along.

My worry is it will devalue our mining company's in the short (1-5 yrs) term and open them up to the same People/Gov/financial that did this. if say Morgan and Goodman "coincidently" sold there entire PM holdings they would not have enough to drop commodities so hard and fast. Buffet sold out and it was not even a ripple really. When Australia plunged our almost entire Gold holdings for $275 - $250 it stagnated, but did not collapse quite like this.

 

http://forums.silverstackers.com/to...iners-is-this-dip-going-to-affect-shares.html

Newcrest is down 8% and read that the sector in general is down 10% overall. It's Get Hammered Time for the miners too