Ann: Outstanding Kangankunde Stage 1 Feasibility Study Results, page-57

Yep, agree the payability is too high. What really matters is low capex and where Kanga sits on the cost curve, which is still at the bottom regardless of payability. All RE deposits are uneconomic or marginal at these low Re prices, wherever RE prices end up in the future it will be higher than now and only the best deposits are likely to be developed (subject to crazy government subsidies backing the wrong horses of course...)

Strip ratio is not ultra important imo. It's very modest extra cost for a low tonnage operation in shallow pits. Given the modest costs of crusher and gravity pull off the spirals it's probably not a big difference on extra strip costs for higher head grade. Higher head grade without either extra strip or extra front end tonnes to crush and recover would have been nice but no big deal. Recovery to product is the real downgrade... 60% vs say expectations of 72% from early days is 20% less product for their op costs.