I can't find any recognition for the cost of financing working capital in the RSPT model. Finance costs are excluded in calculating the profits of the mine and there is no recognition working capital in the uplift factor allowing financing of working capital or a uplift allowance for working capital which is a real cost to miners.
Perhaps treasury allowing the cost of financing working capital might allow miners to manipulate the RSPT.
Sounds paranoid but Henry set the uplift factor at the 10 year risk free rate to stop miners manipulating the system and simply sitting on projects and doing nothing to gain a whopping 6% PRE TAX uplift.
