I've noticed some doggie financial reports.
Adjusted rolling 12 months
Mining cost was 54M instead of 76M as reported. It's the total expenses for all of the four quarters.
C1 and AISC were calculated by the average of the four quarters so the reported figures were wrong too.
Realized CU prices were varied due to the refined concentrate grades
AISC per tonne 27,189,035 is about $A 5.99/ lb. It's seem too high. Why?
Mlx has spent more than 53M for the mining expenditures in FY 2018-19 and about 36M for two consecutive years in 2017 and 2016.
Total mining expenditures for Nifty was about 89M (53+36). This is far below the cost to develop an underground mining project which is around 550M from A to Z.
It made a good sense to acquire troubled projects rather than to develop new projects that was the reason why West Gold did so well.
Unfortunately Nifty isn't doing what it should be.
The sp should be at least 30c for now with two conditions. A better cu price and a production ramping up as expected.
(20min delay)