Net margin is all that matters in mining projects as it is the combination of everything (feed grade, processing costs, transport costs, sale price, the lot). High grade is great to reduce opex but at the end of the day if your product isn't as desirable and it sells for less it doesn't matter if your production costs are a bit lower.
We can only make our assessments based on what WKT and GPX have provided to us in various studies and presentations to date. Thus far GPX comes out on top due to better margins. Simple.
Likely also evident when one is conditionally funded (albeit at not ideal terms for SHs) and one isn't.
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Nice - This new vid from the MD says everything you should need to hear on GPX, page-87
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