Whilst I think it was a forgone conclusion they would push the go button on this, I am perhaps a little surprised at the cost and time.
I had assumed they were pursuing this partially because of the delay in permitting at Mt Gibson, but... it would seem this is not the case, more about longer term ambitions of 300k+ p.a (obviously that was a long term goal). Interesting to note the implication regarding the AISC increase... what would Karlawinda AISC have been in 2 years time if not for the expansion? The reality is... costs are rising, and as I understand it, particularly in regards to open pits.
Hard to know what the market will think of this in the short term....
CMM Price at posting:
$6.26 Sentiment: Hold Disclosure: Held
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