1. management have lost credibility here. Repeatedly gave presentations touting 1000-1100 AUD AISC for many years i believe. Now it is $1800 AISC and only $1550 AISC after much plant expansion. No reasons given as to the huge AISC increase- obviously high cost of labour and equipment in WA is probably 90% of the reason.
2. If it can achieve 250,000 ounces production at $1550/AUD AISC, it is still OK, as the gold price is nearly $1800-1900 AUD cash margin at this price. Given golds trend over time, this could increase. at that price, the EBITDA is around $450M, and a multiple of 6-7 gets to around $2.5-2.8bn valuation, so current price is very low due to lack of credibility.
in the chart, only AEM is at a lower cost on similar mines, so even at $1550/AUD AISC is still fine.
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Last
$1.27 |
Change
-0.010(0.78%) |
Mkt cap ! $1.619B |
Open | High | Low | Value | Volume |
$1.29 | $1.30 | $1.26 | $9.447M | 7.441M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 26512 | $1.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.27 | 63228 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 26512 | 1.265 |
8 | 95404 | 1.260 |
17 | 327915 | 1.255 |
34 | 293957 | 1.250 |
4 | 73558 | 1.245 |
Price($) | Vol. | No. |
---|---|---|
1.270 | 63228 | 4 |
1.275 | 227183 | 5 |
1.280 | 196622 | 8 |
1.285 | 225804 | 5 |
1.290 | 218972 | 8 |
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