Thanks for that it was most interesting to read your take on the subject. I have extracted the below narrative from page 10 of the KGM 2012 annual report
"Lindsay’s Sensitivity analysis shows the pit designs to be robust, with significant upside potential on a gold price above US$1,600 per ounce"
To me it appears rash for the management to now change tack and go underground because of the current POG @ US $1430 or to put it another way the management appear to have a negative view of where POG is heading or their understanding of the words "significant upside" appears at odds with mine and the Macquarie dictionary's interpretation.
KGM Price at posting:
10.3¢ Sentiment: Hold Disclosure: Held
