Funnily enough the delay, assuming it gets resolved positively of course, could well work in Kentor's favour.
During the delay, the $AUD has been strengthening strongly against the $USD, while $AUD gold price has pretty much kept pace due to rise in $USD gold price.
The rise in $AUD will have very positive ramifications for the capital expenditure costs in $AUD given many of the big ticket items still need to be settled. The move in the last few months has been around 10%, which while it might not sound like much, when looking at original estimated CAPEX of $96MUS, a 10% move in $AUD strength results in a significant saving (although some of that $96M probably already spent).
I would not be surprised if Kentor outlaying around $13M for Jinka is possibly partly due to this saving.
Cdchi1
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1 | 89600 | 0.095 |
1 | 100000 | 0.090 |
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