Production is declining and miners aren't replacing reserves, these were two issues discussed between Kitco News' Daniela Cambone and Exploration Insights' Joe Mazumdar during the PDAC convention in Toronto. "If gold price stays at $1,250 and people continually book reserves at $1,250, there's not a lot of projects that make sense at that price," he said. "Hence, we've seen a lot of reserves go down so the only way, we think, to replace quality reserves at $1,250 is we need grassroots exploration." Don't forget to sign up for Kitco News' Weekly Roundup - comes out every Friday to recap the hottest stories & videos of the week:https://connect.kitco.com/subscriptio...Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/ -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: https://twitter.com/kitconewsnow --- Kitco News on Facebook: http://facebook.com/kitconews --- Kitco News on Google+: http://google.com/+kitco--- Kitco News on StockTwits: http://stocktwits.com/kitconews