Yes cash build is the only real way to look at these companies now.
Its ironic that AISC was introduced mainly because 'cash costs' had been corrupted as a useful measure. Now AISC is going the same way.
I think a lot of the major capital at the moment is in relation to improving throughput and ounces at Cowal, so probably shouldn't be classified as sustaining.
Ann: Operations Update, page-27
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