ninja - sorry but you have sort of got the hen by the testicles there
ore stockpiles high at start of a period means c1 will be unnaturally low because they will process maximum ore for min cost. ie the cost of getting ore to stockpile was already incurred previous quarter.
thats partially why last quarter c1 was abnormally high - they continued mining - just couldnt process it all
c1 on a normalised basis gets to its worst when ore stockpiles are at their lowest.
not saying they wont get below $30 - i dont have their mine plan.
though i agree the october c1 confirms resin replacement recovery seems on track - thats good news
im happy with my $us30-31 dec qtr wtd avg punt... anyone give me 3-1?
Todays Sept Qrtly Call, page-13
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