If you spend more time looking past the headline numbers, the performance was not as bad as the market reaction suggests it was:
In Dec Duckhead is expected to produce 40,000oz at 7g/t
Assuming 90% recovery, contained gold 44,444oz. Mill feed 197kt (@7g/t). Waste movement assuming 10:1 =1.97Mt waste
In Sep qtr Duckhead waste movement 57%*3Mt or 1.71Mt of which c148kt of waste was associated with 3koz produced during the qtr.
Remaining waste movement in Dec qtr relating to Duckhead = 1.97Mt -1.71Mt +0.15Mt = c0.3Mt
If the cost associated is assumed at US$5/t. Cost associated with waste movement (Duckhead) in Sep qtr 5*1.7Mt =US$7.5M
Cost associated with waste movement (Duckhead)in Dec Qtr = 5*0.3Mt = US$1.5M
DYOR
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