I've never quite understood the life of mine narrative for resources. Is not the IRR or ROI the most primary factor?
Technology advancements have significantly reduced LOM for the entire resources sector. A resource that took 50 years to mine back in the 1800's now could take 5 years. If LOM was a go no go, then what happens if the POS heads to $50 an ounce. Just dig slower and you get an extended LOM. At the end of the day is it not about the profit and not the timeframe?
If a diamond mine was going to net a $1billion over two years, the LOM wouldn't matter surely.
Happy to learn here.
TIA
I've never quite understood the life of mine narrative for...
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