At $100 AISC, that's pretax profit of $1,550 Aussie an ounce. We get half the profit and only pay half the cost. So $725 an ounce pre-tax profit for us. Could be 3 million ounces at Purdy's. That would be pre-tax profit of $2.2 billion. Don't know what the Corporate tax rate is in Australia but guess 40% everything included (NSR) etc. Still leaves $1.5 billion or around $2 per share. We have a lot more than Purdy's. No wonder DL is so confident and wouldn't let Kirkland Lake in.
Good Read, page-5
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