What wouldset this off really sky high will be the Operating Expenses going down to 2016 levels at just around US$3.00 to US$ 3.50.
The Prestart is the hardest part and PAN have pass that already. Additional Trucks and Loaders have been commissioned in June, July. I would expect production to increase, therefore C1costs should decrease. We are hedge to a certain Price/lb on about 50% ofour production (6 KT +) so we may not get the full advantage of this currentPoN . Could they renegotiate the hedging price? It did say % of LME Price.
Restarting a mine from standstill will always be costly. We passed that.Others like Glencore's Ravensthorpe and Mincor will be starting soon. I thinkwe have an edge on them by starting early. Not easy to get experience Miners.North Savanah will be in Full production 1st Quarter next year. If Indo Ore Banis moved forward this year then PoN is anyone's guess. By then ourproduction would be already refine for optimum efficiency. If our AISC at $US3.50(A$5.22) and PoN then is $US7.50(A$11.19) our margin is $A6.00/lb. This figuresare realistic. Capital expenses should be minimal by the 2nd year. It’sa good thing that we are now producing. We will get Revenue. DYOR
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