You have to account for operating costs. I think from memory,...

You have to account for operating costs. I think from memory, even some of Barrick's mines are now up to $USD750/oz given the inflated labour market etc in WA. Don't know the exact figure but those majors are currently able to cushion the high costs due to volume. Enormous amounts of capital are required to get the project up and running. Look at Boddington and the like which have blown out to close to twice the original value.

There is no dispute they have the resource, albeit at marginal grades but a lot of bean counting to be done to see if the project is cost effective.

As far as short term sp goes, any political volatility this year should assist it regardless of further announcements. Should go to 22c quite comfortably.