The comparison is pretty plain if you look at what he used as the basis of the comparison. HAW with the same arrangement with SAR at the same plant had costs of around $1400-$1600. They did it when the gold price was low. All of those costs were included in the HAW calculations at the end of their phased 20-30k pa open pit project. In other words, his analysis already includes the things you mentioned.
Add to My Watchlist
What is My Watchlist?
