48% is the increase in production due to the increased grade...

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    48% is the increase in production due to the increased grade from current to Area5.

    Its already on 50% attributable basis as throughput is at 360ktpa (720ktpa on 100% basis).

    Royalties are in the payability of 90%...effectively assuming 10% deduction from spot for royalties and smelter charges which if you look historically is very consistent.
 
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