I have been always skeptical about the industry's AISC calculation, which uses gold oz sold instead of produced as denominal. However, I guess this has its own reason. For example, in WAF's case, if we use gold produced number (less hence unit costs higher), how can we justify the ROM stockpile? Had WAF processed all mined ores in the quarter, the production would have been well over 70koz, which makes the unit costs lower. So I think it's ok to use the industry method. My 2 cents.
Ann: Quarterly Activities Report, page-7
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