From Red lake. EVN's Red Lake never performed to expectations. Come to think of it same with NST Pogo, NCM Atlantic etc.. These north American mines have been a disappointment.
Hopefully this should now shift expectations into the correct context. Under the EVN low price assumptions RL is not on par. Generally speaking the higher the cut-off grade, the higher the cost to mine. Bringing the cut-off down means less ounces but gives more certainty. More importantly lowers the cost to mine and optimises it on paper and production moving forward.
This is inline to JK mantra. EVN is a margins over ounces business.
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