Ouch.
Actual ounces of gold is just 266k from the open pit....
Unsurprisingly, mining the U/G reserves has caused the average grade to reduce as well.
I do like how upfront RMS are being about Edna May. Its basically going to take a huge increase in the POG to save it. Otherwise, the ounces are just not viable to produce.
IMHO, if the price of oil/diesel stay high, Stage 3 is dead.
All the focus on U/G expansions at Mt Magnet show that the RMS must boost it up towards 200k p.a, for when they put Edna on C&M.
Lots of cash should be generated over the next 3 years, though strategically, they now must replace Edna May with something better....
Ann: Edna May Stage 3 PFS Update, page-6
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