These quotes from SL in a recent article resonated with me ie lots of fat when we turn the plant on and we have to get our restart strategy right! As a previous post from me stated if you work backwards using past costs increased by 20% at the current grade of 2.5g/t an ASIC of $A1,000 is possible and at a grade of 3G/t which should be possible in the near future the ASIC is significantly below $1,000 - so an ASIC of $1,300 or lower is possible accounting for higher cost of underground mining. Achieving these figures is like printing money with POG over $3,300 especially with annual production of 150k - 200k Oz pa.
“The grade we’ve found at Never Never is about six times what they used to process at Dalgaranga, so we have a lot of fat in our margin when we turn our plant back on.”
“In saying that we still have to get our restart strategy right and can’t get ahead of ourselves.”
Ann: Updated Exploration target for the Never Never Gold Deposit, page-119
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