Hedges are way out of the money, but a lot of people concerned...

Hedges are way out of the money, but a lot of people concerned about the AISC, which was modelled at A$922 per oz in the DFS which has now basically doubled. That's a bad miss. Plus as a lot of people have noted a significant amount of capital to be sunk over the next 12-18 months combined with their somewhat chequered history of blindsiding the market with surprise cap raises. They've done well to get the project going, but it has been a rocky road.

The gold is there, but they're not mining a single front, there are multiple production fronts all over the mine which makes optimising and properly utilising your mining fleet challenging. Every moment spent tramming gear from point A to B and back again costs time and money, and lowers productivity. I can imagine working there would be a total headf$$k.