It's a "given" that you know, I assumed and even Paterson's may have even understood. But really is there is not much point discussing it? ..... And I write such "entertaining" posts!
The usual dribble just doesn't do it for me. Can you convince me otherwise? I'm still not sure if the stock is worth any more.
I hope the write off is from the South and Centre pits as you say. However, that would then mean that they're very soon not making anything. The south pit is being mined now. The new mill can now handle the softer ores from these pits and the first has just been commissioned. The old mill can still process the softer ore by blending with the North, as they are doing now, until this stock pile runs out! I can't find anything that suggests other than 2017 mining is to commence again from the North pit! The old mills can handle the harder North pit ore.
The alternative is stripping has been written off from the North pit. Which IMO from the lead I've already given shortens the mine life substantially. That is my issue which Buffett just doesn't address.
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