It's a large reserve (187Kozs oxide, 307 transitional & 1.563Mozs sulphide) and resource (422kozs oxide, 605kozs transitional & 3.164Mozs sulphide). I's the sulphide which gives it upside. They plan to produce a concentrate for the sulphide and I guess since they are going to build an Albion process plant a Gwalia (for Bardoc ore) they intend to ship this concentrate to Gwalia for processing. With the Simberi sulphide project the production is likely to go up and the AISC will come down since production is the denominator in the calculation of AISC.
SBM Price at posting:
$1.32 Sentiment: Hold Disclosure: Held
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