Anyone know what NCM spends a year on exploration? With 80M+ toz...

Anyone know what NCM spends a year on exploration?
With 80M+ toz ounces in the ground that's the first thing that should go to save money. At the current rate of production they don't need to find another ounce for 40 years!

Unfortunately to fix NCM they need to do 2 major things. There will be plenty of smaller things to fix but the pair of elephants in the room are.

1) They need to at a minimum double production & this will mean spending more money. If they can reduce prod. costs with scale this will be hugely beneficial. Unfortunately it means more capital. I suggested to the Lihir Mgt team about 7 years ago that they should build a processing plant on the northern coast of Aussie & barge their high grade tailings to Australia for processing. You effectively create 2 mines & also solve the problem they have for space of the tailings. Not sure what they do with them now, perhaps blend them with the ore but back then they were predicting a 20 year mine life beyond mining just with the tailings at 2gpt!

2) sell the Fijian assets to anyone who will take them, they are a dog. Always have been always will be. Telfer perhaps the same, although I think Telfer is perhaps worth trying to remedy the operation.