How I heard the boss bloke describe it is that Ramelius paid $40m cash for the first 200k oz from Edna May. So effectively that adds $200 an ounce to the cost of mining Edna May. Anything above that and the normal AISC for Edna May is money in the jar for Ramelius. If the gold price tanks or it turns out that they were sold a pup with Edna May then sure they will not be making money from at least the first part of the deal. But the clear expectation is that they'll be making money from Edna May from day one (hence in part why they think they will have close to $100m cash in the kitty for the end of FY18.
(but happy to be corrected).
I think the big interest with Edna May is if Ramelius could produce more with less than Evolution was able to.
Undervalued, page-31
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