Ann: COVID-19, Guidance and Dividend Update, page-279

About your concerns:

AISC rises with the price of gold as lower grade material becomes economic to process. This has the effect of increasing mine life which is beneficial to long-term holders. If the price of gold falls, AISC can be scaled back. The low oil price is something you didn't mention as being a saviour along with the POG, but that's more relevant to next quarter I guess.

Debt has increased, but they bought half the Super Pit and a few other things with it. And it's not such a bad thing when every other company is hunting for liquidity and rates are at historic lows. Remember, since they've drawn down their credit facility it can't be taken away from them by a thirsty bank.

Recent projects I guess you mean Pogo and the Super Pit? Turnaround at Pogo was announced in the half year results, if I'm not mistaken. Super Pit, we'll know about tomorrow morning. Whatever effect the measures taken to prevent virus spread will no doubt affect things, but I guess it will be similar for all gold miners that are still operating. EAR is one recent purchase that we haven't heard much about yet.

Market cap priced to perfection? Each punter decides for themselves.

It's not the same company it used to be, that's true. It's much bigger, stronger and closer to whatever vision Mr Beament had for it from the outset. But it still has the same spirit.