Very impressive result, albeit, the mine life will be extended before they actual pour first gold.
As really, its an 8 year mine life. Production profile of 150k is great, few projects have this sort of size.
AISC.... interesting to see it 25% higher than Karlawinda. But... higher strip and multiple pits explain it.
Timeline for first gold looks good. 2026 will see CMM hit 270k p.a. Cash flow generation will be phenomenal.
Though of course, $340m price tag shows the true increase in costs.
The capex is very savvy. $79m is an incredible amount, only BGL outdoing them on that front.
Smart though, enables them to have a lower AISC due to all the upfront $$ they throw at it.
Win win for them. Ensures that plant is going to have a huge stockpile ready, plus the open pits will be primed to be mined.
Reduces all the risk during commissioning/ramp up.
BGL is doing the same thing. 10km+ in pre-development work being done.
For those interested.
DEG plans to have their first gold in the exact same time period as CMM. So the race is on.
Today's muted share price response implies that.. the market got what it expected.
Good luck to all holders.
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Very impressive result, albeit, the mine life will be extended...
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