There’s a couple of peeves I have with the way EVN do their AISC but they’re not the only ones.. one of the bigger ones is how much ‘major capital’ they spend each year that doesn’t grow production but merely sustains operations (so I would classify as sustaining). A lot of capitalised stripping and capitalised development that never makes it into EBITDA or sustaining capex and thus AISC...
Ann: Operations Update, page-26
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