I think perhaps the market is noting the capex intensity rather than the AISC. Quite high if you look at the announcement simply at face value.
However this capex is unlikely imho to be used for just the extra 350 kt of copper. This is just another step to realising value from the broader resource imo.
Would be really good to get some views from mining professional types.
Regardless it should cement our position as a 100 kt plus SA producer for most of the rest of my life.
West Musgrave yet to come, and something from Brazil probably. WM excites me as another that will start modest, then expand and extend.
It’s along way off yet, but I expect in time AC will take us to a $20 plus sp, and easily justified at that. Just so long as he doesn’t catch hubris.
EL
OZL Price at posting:
$10.37 Sentiment: Buy Disclosure: Held
