I'll be really interested to see the next quarter results on Henty.
Basically it is a fixed price operation costing AUD $5m/month to run.
So if you look at last quarters results they produced about 2300oz/month with a cash operating AISC of AUD 1800. The bottom line AISC blew out because of $740 of Sustaining Capital costs (about $5m spent on capital in total). Royalties also high at 170 but not much they can do on that.
So assuming they have done most of their capital spending now at Henty and are running production at 25kT/month (they forecasting annual throughput of 300kT which is 30% up from 6 months ago), we could see their AISC at around AUD2300
So not a low cost operation but with POG at $3500 and no longer hampered by historic hedging they inherited, it could be making $5-7m/quarter.
Ann: Catalyst to self-fund Plutonic East restart, page-28
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