Ann: Pictorial 16 - Comprehensive Project Update , page-26

re: Ann: Pictorial 16 - Comprehensive Project... bitzer, yes, but the deeper the pit is, the wider it is at the top and the greater the strip ratio.

They haven't really started the pits yet - they are in fact considering redesigning them. They are taking the easy to get rich ore from close to the surface to maximise cash flows when they start processing, which is fair enough. But to claim some sort of genius for lower costs of mining at this stage is a bit cheap. Comparing $1.90/T now to a LOM cost of $3.40. They even attribute some of the "savings" to owning their own mining fleet - which was already owned when the costing of $3.40 was made.