"The potential cost reductions which could result from the more...

"The potential cost reductions which could result from the more efficient refurbished mills have been highlighted by the fact that C1 costs in the month of August were under A$70.0 a tonne. This compares with A$78.7 a tonne in the six months to June 30, 2015.

Most of the mill refurbishment was undertaken in July, though production rates, and therefore costs, were adversely impacted in the first week of August."

Already below AUD70 per tonne in August and expected to drop further in September. Add in the benefits of the second mill upgrade next year and the future is looking good.