Ann: First production delivered on schedule at Kathleen Valley, page-153

This BS about AISC etc, is another red herring imo...

I stated in a previous post that our cost structures during ramp up are not overly relevant and will be higher than the long term average simply due to the investment in stockpiles and mine development that cannot be capitalised. Nothing has changed as far as long term costs are concerned in anything that I have read, and I read plenty! The underground conditions are stated as excellent and as predicted. We have Byrnecut as our contract miner on terms contracted with LTR, so it's a known. The plant construction is now complete and on Opex budget that was revised in announcement of 29 September 2023 (here).

Here is an extract of that announcement detailing the reviewed Opex numbers....



For those in any doubt, note that the opex numbers leave a substantial buffer if Spod SC6 prices are say USD1,100 (=AUD1,667tonne)

Regards
DF