Costs worldwide have been going up significantly. AISC, as is pointed out, is up with the lower forecast gold production. There must at least be a reasonable fixed cost component to WAF AISC.
Costs are fluid in the world we live in unfortunately. If you can give a specific reference to your "narrative" I'd happily check out whatever it is you are referring to specifically.
With the Aussie dollar at 65 even 70 WAF are printing stacks of money at a US$ gold price of $2000. The back end of 2025 stacks and stacks.
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