It's a completely sugar coated write off.
-75,000oz from Reserves.
Read further into the reports. https://www.asx.com.au/asxpdf/20200212/pdf/44f0mf9w10sjf1.pdf
Check the Annual Mineral Resources and Ore Reserves Statement.
Gold: A$1450/oz for Ore Reserves, A$2000/oz for Mineral Resources.
Think about what this means for the resources. In an already short life operation for the remaining Reserves, they would have been mined during the existing LOM at a much higher gold price with minimal risk.
I bet this write off hurts way more than what is stated. The resources in the annual report quoted 312,000oz write off post mining depletion of 113,000oz. So it's more like 237koz that are written off (assuming 100% resource conversion).
It's a completely sugar coated write off. -75,000oz from...
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