Costs of US$40-50/t are very achieveable with strip ratios around 5. If anything they could get it down to US$30/t in my imo in the next 1-2yr. Considering they are selling on the spot market this is still a large profit margin.
To me this only more of a reason to suggest they can successfully convert more of the resources into reserves as high prices mean they can profitable mine more of the ore.
Further reason why it shows how important it is that that are producing NOW not in 2 years.
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