Last week I had posted a table suggesting cash costs of around US$1160. Whilst the cash costs of US$1150/oz are still high, I see some improvements in cash costs / tonne movement. Portends to improving performance in the next few qtrs.
Column 1
Column 2
Column 3
Column 4
Column 5
Column 6
0
September -Qtr Actual
September -Qtr Proforma
June -Qtr
March-qtr
1
Waste movement (t)
3,003,215
2,412,399
1,951,299
2,245,137
2
Gold ore mined
415,017
341,567
284,771
308,681
3
Strip ratio (waste/ore)
7.2
7.1
6.9
7.3
4
Ore milled
represents 4.6Mtpa
1,125,304
1,150,000
958,778
1,018,840
5
Mined ore as % ore processed
37%
30%
30%
30%
6
Head grade
1.04
1.10
1.04
1.10
7
Recovery
90%
90%
88%
90%
8
Gold recovered
33,864
36,604
28,211
32,429
9
Gold sold
as per announcement
41,657
41,468
30,483
38,757
10
Adj production
41,657
41,468
30,483
38,757
11
12
On-site production costs
assuming $15.4/t material moved
36.5
42.3
30.9
22.3
13
On-site admin costs
2.9
2.2
2.2
14
Royalties
1.1
0.7
0.7
0.7
15
Credits
-0.7
-0.9
-0.9
-0.3
16
Total cash costs
39.8
42.2
32.9
24.8
17
Cash costs (US$/oz)
18
19
Per ozs basis
20
On-site production costs
877
1,018
1,013
576
21
On-site admin costs
70
72
57
22
Royalties
26
17
23
17
23
Credits
-17
-21
-28
-9
24
Total cash costs
956
1,014
1,080
641
25
26
(in US$M)
27
On-site corporate costs
1.4
0.8
0.8
0.7
28
Exploration costs
Higher exploration during Qtr
1.2
5.0
0.7
1.8
29
Capitalised stripping
4.2
1.3
5.5
30
Capex
1.3
0.5
0.5
0.8
31
8.1
6.3
3.4
8.8
32
Per ozs basis
33
On-site corporate costs
33
19
26
18
34
Exploration costs
29
121
24
47
35
Capitalised stripping
101
43
142
36
Capex
31
12
17
21
37
194
152
110
228
38
39
Total AISC
1,150
1,166
1,190
869
40
$/material mined
(on-site costs + capitalised stripping)/material moved
12.8
15.4
15.4
11.8
41
$/milled ore
35.1
36.8
34.5
24.1
DYOR
BDR Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
