a change in grade has significant impact on AISC.. the AISC is not indicitave of an efficient or innefficently run operation per se.. its a denominator over an enumaerator.. the grade is by far the single biggest factor effecting the AISC.. if you were to compare like for like grade to a miner who is using contractors instead of inhouse mining you would likely see a favourable comparison on that front too, because a contractor needs to put mark up for profit on the cost.
So really we have survived the out of favour times for gold miners.. and we have torque if selling price exceeds cost of production increases.. i.e upside to margin. Given we have tonnes of marginal grade we also have massive torque should we find higher grade to blend.. upside to margin as well as overall ounces
If gold wasn't at this price a lot of miners would be using higher cut off grades or going on care and maintenance.. as Fitzy rightly points out; costs are rising sub 3k AISC is quickly becoming the new sub 2k AISC benchmark for feasibly mines
BCN Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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