I wonder why LTR decided to include Core for the Mineral Resource Estimates comparators on page 42 but drop them off the comparators on page 43 when looking at capital intensity?
Lets re-add Core. Using their assumed 0.73 exchange rate, Core's capital cost of A$89m becomes US$65m. Conservatively using life of mine 175ktpa Core would be at 371 on the table below. Using typical early-year production targets (190ktpa) this would drop to 342. It would drop a little further to 330 if nameplate production of 197ktpa was used. If only production facilities not grant's pre-strip are included, then the capital intensity would become A$40m (US$29m) for a value of 167 (@ 175ktpa).
Core's planned grade is 5.8% not 6.0% but I don't think that's a fair reason to exclude a same country, in development comparator.
The Peer comparison information below on capital intensity below is from the 1 Dec LTR release. And just to be clear, lower capital intensities are where you want to be.
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