I think you are missing a few nuances here.
The SS1 had a big capex vis a vis the small indicated resource of 3 Moz (not 8). Once bring it up to 6 Moz or so, the CAPEX in relation to the resource will be fine (below DEGs). NPV will go up massively and also IRR. Even with grade staying the same.
Since the bulk mining will have a low strip ratio the cost per Oz will be low in relative terms too.
For RPM: some parts will be bulk mining and some won’t. So cost per Oz will depend on grade but also on how much dirt they have to move to get gold.
For IRGS all dirt contains gold.
Anyway we will see. One thing we know: the current SP is crazy cheap
Ann: RPM Continues to Deliver High Grade Gold as Footprint Grows, page-118
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