Yes I agree absolute minimal cash build for FY25 - using cash operating costs of $77.5mil/qtr, I've boosted top-side guidance from 3.0Mwmt to 3.1Mwmt as he's usually conservative and will want to achieve his production bonus for FY25. Allowed $35mil for re-positioning of haul ramp and ground support remediation.
So reserves at 30Jun23 were 12.4Mdmt, FY24 shipped 4.0Mdmt, FY25 projected to ship 3.0Mdmt and FY26 projected to ship 5.4Mdmt being the balance of reserves.
In FY26 using cash operating costs of $84mil/qtr and an allowance of $50mil for rehabilitation of site. Allowed for capital projects of $25mil in FY26.
Closing balance of $700mil for Cash & Invest(excludes FEX) at 30Jun26.
Ann: Quarterly Activities Report, page-13
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