G'day all...interesting discussion between francoo & plough. I...

G'day all...interesting discussion between francoo & plough. I reckon you are both narrowing in on how things may progress with the airleg mining method.
Generally, CAPEX is accrued by decline, crosscutting & other waste excavations such as stockpiles, pump cuddies, etc. Also, items of plant & equipment that form company assets. Things that can be utilised for the life of the mine.
Alternatively, OPEX is accrued by everything else that basically involves the ORE excavations & it's movement. Consumables, fuel & power & usually prorata'd on either a tonnes or bcm split between the 2 categories.
From the company ann. it seems that Perilya left a fair ore resource available in the lower levels of Daisy Milano for immediate exploitation, ie. operating development & stoping. Thus very little capital development will have gone into the recent numbers. The airleg miners would have driven underground & started ripping into the ore. Easy stuff & looks very good on the books! Obviously the idea of using airleg methods means that the vast majority of the OPEX is in fact ore, not waste development.
As for grade, plough is correct to assume dilution of the 33g resource. Depending opun the dip of the vein a good miner will mine no less than 1-1.5m. I do not know whether they will be tomming or bolting the stope walls. Tomming would allow for less width. You would not want to leave too many pillars of 33g dirt that is for sure.
They look to have a lot of small deposits along strike from DM which should see some good exploration numbers.
Could be worth a punt leading up to the first pour at Lakewood.

Hardrock.