G'day spec,
Agree with everything you've said there, although I don't see any lack of disclosure regarding the Mt Gibson permitting timeline / holdups.
I think the primary reason for the potential upgrade to 7Mtpa is to maintain the stunning AISC and smooth the margin curve over the entire life of mine by negating double handling of the lower grade stockpiles particularly towards end of mine life when our strip will also be higher.
Other reasons would or could include - we can afford to without finance or dilution
- make more hay while the sun shines on the spot price
- geos speculating much more ore down there ;-)
- make the ratio of hedged oz's even less significant vs production
Such a great company - Well done CMM
Have a nice day everyone
Ann: KGP Ore Reserve Increases to 1.43Moz's, page-4
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