I recall CGT plays being deemed profitable some time back at AUD1000 per oz or there abouts .... and this is still the case.
At AUD 1500/oz I would suggest that most of the underperforming LGL target zones would be profitable...so I can't fully understand the market bearishness.
The difference (around $500) could be seen profit (before tax) .... however I expect that the company will put assign a high proportion of the surplus into getting other digs up and going.
cheers
CGT Price at posting:
47.0¢ Sentiment: None Disclosure: Held