its doubled in price so far this year - maybe you need a longer time frame ?
The other thing is would say Wayne has a good accountant , pushing CAPEX in early to defer tax , means statutory profit will be low but underlying will be decent and in the interim has not needed to pay the tax man , so good WACC usage . Using an 8% discount rate is also conservative given I doubt there is much risk with this expansion could have gone with 4% .
Costs are shown as AIC not AISC so once again conservative modeling .
THe Murchison is becoming the jewel in the crown for Australian gold mining .
(Think the word crown will come up again with WGX in the next month or two )
Ann: Big Bell Expansion Approved, page-10
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