If it cost them $150m to dig it up then yes. I'm pretty bullish on this company but at this stage their share price is pretty justifiable. At no consistent point have they been able to mine, process and sell at a profit. A lot of that has been down to exploration costs in the past but that is what you are taking a punt on by investing in them at this stage; that they can do all of that and turn a profit. Hence improving head grades, improving size distributions and improving prices are all promising signs.
Ann: Mineral Resource Update, page-7
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