In the Edna May deal Ramelius effectively agreed to pay Evolution $200 per ounce for the first 200,000 ounces mined. Does the AISC quoted for Edna May include that $200 per ounce or is Ramelius making $200 an ounce less from Edna May than the quoted AISC suggests? If it is the latter then at the current gold price Edna May, or at least the first bit of the Edna May deal, could be seen as a marginal investment.
It's all about Edna, page-5
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