I don't think it is the only path but it will definitely help. I always feel like using gold sold for the denominator of AISC is a bit silly. With higher production in the second half probably doesn't need to be sub $700 to meet the guidance range.
I really feel like that M1South open pit ore is only drip feeding into the mill at the moment.
If you look at the Reserve Statement the grade is 5.6g/t for the open pit. M5 is 1.4 g/t. The open pit mined grade is currently 1.7g/t. If the pits were being mined in proportion to their ore tonnages then the composite grade should be ~2.4g/t (assuming M1S OP mined for ~12 months and the rest is M5 ore). I think what has been happening to date is a lot of stripping at M1South Open Pit but at some point a great big whack of ore will hit from the sweet spots toward the bottom of the pit and boost the total open pit mined grade probably closer to 2.5-3.0g/t. Maybe that reduces the mill throughput but it will be worth it for the extra ounces.
Ann: Production Update June Quarter 2021, page-45
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