Ummnn.... The cash went into mining koolan Island. The stuff they were mining before the wall collapsed was 10:1 strip ratio. They were losing money hand over fist at koolan Island.
This is why cash outflows stopped in December after the wall collapsed.
Mystery solved aye?
I think it is people doing half assed research that are pushing this price lower. Seems to me that most people thought koolan was a cash cow when it wasn't.
Easy mistake to make because mount Gibson don't publish production costs so you have to do some hard work to make a reasonable estimate of costs at their various mines. I reckon extension bill costs about $30/ton excluding overheads. It is similar strip ratio to Solomon at fmg which is $20/t but Mgx have higher rail and shipping costs
Mount Gibson never reveal production costs. I think it is ridiculous but it is not a recent change so don't take it as a bad indicator for extension hill.
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Open | High | Low | Value | Volume |
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---|---|---|
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Price($) | Vol. | No. |
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34.5¢ | 89541 | 2 |
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4 | 187731 | 0.340 |
7 | 361690 | 0.335 |
7 | 340242 | 0.330 |
3 | 98533 | 0.325 |
3 | 128000 | 0.320 |
Price($) | Vol. | No. |
---|---|---|
0.345 | 89541 | 2 |
0.350 | 125114 | 5 |
0.355 | 44497 | 1 |
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