Previously I have stated (1/7) that the All in sustaining costs (AISC) (aka cash costs) was:
* $42.94/lb in Dec 2014 quarter
* $37.52/lb in March 2015 quarter
* $34.12/lb estimate for June 2015 quarter.
With today's announcement of another $33m reduction in cash costs and production volume of 5m would be around a $6/lb reduction in costs.
We could see AISC costs of below $30/lb.
On these improving fundamentals, and evidence in that fact that % shorts has risen from 4.5% to 6.3% over the month of July, it is evident that this stock is getting played.
Progress Update: Material Reduction in Costs in FY16, page-4
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