I think they reached break even on variable costs basis in early December 2023. See graphs in the presentation by CEO at the time.
The recent December 2023 half-yearly muddied that view a bit because it included all the early low volume production from July-October 2023.
I estimate the variable costs are already around $180 per tonne, if not less. The AISC (which includes corporate overheads) is way higher around $200-210 per tonne. Both will decrease as production will increase almost threefold this year.
We'll get an update through the quarterly and a separate update
I think they reached break even on variable costs basis in early...
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