I think the 12 month rolling AISC is a more relevant cost estimate to the one you quoted. You've cherry picked an expensive quarter that includes quite a lot of one-off costs.
Also, I'm not sure that Metals X were running a particularly lean operation. Over $6m in marketing costs!?
Nobody is saying that this is a low cost project. All depends on where you think copper prices are heading.
If you believe Goldman Sachs when they say
"Copper is in the foothills of what will be its Everest”, then this could become quite a profitable operation.
https://www.forexlive.com/news/copper-the-foothills-of-what-will-be-its-everest-goldman-sachs-20240418/
