No, I do not agree.
The costs are $2,863,000 + $8,924,000 = $11,787,000
This is total cost for 74,000 tonnes produced
Cost per tonne $11,787,000 / 74,000 = $159.28 this is C1 cost only.
To calculate the cost when looking to see if a company has a profitable operation you must add in staff and administration costs.
Add in staff and admin costs to produce the 74,000 tonne = $2,776,000 or $37.51/tonne
Total cost per tonne is $159.28 + $37.51 = $196.79/t
Obviously if they can increase production and do it without further costs then it will improve.
However at this stage with $196.79/tonne costs for 32-33 % grade needs A$6/dmtu FOB to be profitable.
However A$5.00/dmtu FOB would cover the C1 costs
"$11M / 74,000 tn = AU$ 145/tn"
Your maths stinks. You must be a millennial
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