So for 200koz pa FCF of $350m at spot POG of say $3,650 or $3,500 equates to a cost of $1,900 or $1,750 ie AIC - $1,900 is not what I call a low cost operation and $1,750 is border line low cost. Almost every gold stock with the POG being over $3,700 are now high margin producers. What spot POG did they use?
Ann: Diggers and Dealers - Corporate Presentation, page-95
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