who would have thought that in an inflationary global environment that costs go up every year….
can you tell me the date at which the 2023 production guidance was announced? Because there was an increase in royalty rates from October 2023 that had a $6-8/t aisc impact. Stripping out this one off, the actual increase on 2022 was 3.1% (1120 / 1086). This is not at the “upper end of guidance” which indicated an 8.2% increase on 2022 (1175/1086). 2024 is guiding a 15% increase in aisc so the market is responding by selling down, but if they come in under as much as 2023 actual vs guidance then you’ll see aisc averaging under 1200/oz. Even if the average 2024 gold price is 1800usd that is still over $110m usd of margin for the year.
WAF Price at posting:
83.3¢ Sentiment: Buy Disclosure: Held
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