Only if they sourced that ROM build from areas with an 18-19 strip ratio and completed the associated strip work in the same period.
If the Dec qtr ROM increase was sourced from areas that already had the overburden removed, the cash cost of that ROM build could have been down under $2m. The previously quoted mining average cost was $13.79/bcm. Say an average pegmatite/waste rock density of 2.6 = A$5.30/t.
If this ROM build was from areas that had already had most of the stripping work done in previous periods, there could be a residual strip ratio one part waste, one part ore for the work done in the December quarter.
$5.30 * 2 * 120,000t = $1.3m. If taken from areas with two parts waste and one part pegmatite the cost is close to $2m.
From July 2022:
Banter and general comments, page-35895
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