Sorry I did a wrong conversion 1 Au per tonne = 0.0004536 Au per pound $27,189,035 Au per tonne = $12,332 Au per pound
The $A/lb12,332 is not a production cost to produce cu concentrates. It's actually the mining cost to pull the materials out of the ground. So C1 and AISC were NOT correct too.
The max plant capacity for Nifty is 40,000 tpa Cu concentrates which is about 2.6 Mtpa but the company will only need to achieve 2Mtpa by March 2020
Mlx needs additional 40M to reach its target of 2 Mtpa.
The total mining cost was only $99M which is still far below a typical mining cost for an underground mining which is around $150M
Ozl mining or drilling cost for the mining C was 159M and the total project cost was $569M Sfr mining / drilling cost in a new area in the US was estimated to be $US150M Wsa mining/ drilling cost for the new UG was 130M Please not those were excluding infrastructures, processing and refinery costs to establish a new mining area.
Well Everyone has been complaining about the mining cost blew out for Nifty but the figures were too good to be true.
The doggy financial statements did confuse most investors that was the reason why the fat guys were jumping on board.
Welcome 30c at least
MLX Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)