I don't think that can be right, as the economics are better...

I don't think that can be right, as the economics are better than AVL's given rather similar production profiles and up-front capital cost (noting we have an extra contingency buffer) and their C1 cash cost is US $4.43/lb. Also when talking about the numbers (pre release) Ian did say quite clearly it's closer to the original amount which was $4 if I remember correctly.

I tried to model it myself but it's a bit too complicated for me wrt the NPV discounts and matter of sustaining capital.