@thecrabpest, I am very puzzled by “Duketon AISC is artificially...

@thecrabpest, I am very puzzled by “Duketon AISC is artificially inflated by the hedges, in that the cost of mining the gold for the hedges is absorbed by the ounces they get to keep. Once these hedges are paid down, the AISC will likely come down by $150/oz”

In my mind, the hedge book would only affect how much revenue we receive for every ounce of gold sold, whereas AISC is independently determined by ore grades, location, scale and other logistical/operational conditions. I can't understand why AICS will come down after the hedges are paid down.