I wouldn't mind a little more information on Hera AISC numbers. Especially given the relative stability in Dargues numbers and the drop in costs at Peak?
To me it sounds like they prioritized getting through mass-volume. Possibly some low-grade cut they wanted to churn through to get to better areas as part of the extension aims for the mine-life?
But I shouldn't need to be guessing that. They should be spelling it out for us. A loss of ~$6.5Mill for the qtr associated with Hera warrants a couple extra bullet points!?
Otherwise in these scenarios you may as well go broke sitting on the beach.
Looks like the short term strategy is cherry pick the best grades, maximize cash coffers. Then deliver Federation asap. Sounds good to me.
AMI Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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