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Early,

There are two costs, one is cash operating costs, another is full costs including depreciation and amortisation, what the diagram show (by Metals X Ltd) is full costs, where cash operating costs(C1) of some is A$10,000/t US$10,377/t) and full costs including depreciation and amortisation (C3) of a little is over $16,000/t. For Metals X, use full cost for the tax purpose. For Csd, We should use operating cost to calculate NPV, and CSD’s break-even grade should be much less than 0.6%.



Cheers