I had to go back to the Q2FY14 data of CCU when they were...

I had to go back to the Q2FY14 data of CCU when they were operating to get some realistic physicals. I found this:

During the last quarter of 2013, CCU processed 189kt of ore through the plant with development costs (only) at A$10.2M. On a paydirt-only analysis, this is $54/ton. However they also moved 887kBCM of waste. Roughly assuming an SG of 2.8, this is 2.48MT. So if you divide the entire tonnes moved by development cost, its $3.8/ton. The problem is the waste to ore ratio is about 13:1. This isn't huge, but becomes a problem when the value of what you're mining dives. This largely contributed to CCU hitting the wall in early 2014.

Of course I've only looked at development costs here - you'll also have admin, debt repayment etc... which makes the $/ton required to be recovered higher. However, they are not developing the open pit at site, so development costs are less. But then throw in the rising costs of everything since 2013/14.... makes for a bit of a 'how-long-is-a-piece-of-string' scenario. MKR possibly could make some money on the stockpiled dirt (although surely they must be close to running out of that?) but seeing as how last quarter someone threw in $2M to the coffers, and now another capital raise... looks as though its not working.

Here's a page from CCU's last quarterly report for comparison: