I have not assumed any improvements to operating performance qoq. I suspect the costs will come in considerably below the projected costs (possibly the worst case analysis) given
1) FX has declined by c 10% during the qtr
2) with the dry conditions, it is likely that larger trucks have been used
3) fuel costs have declined over the qtr
4) general productivity improvements highlighted by PB
Column 1
Column 2
Column 3
Column 4
Column 5
0
September -Qtr Proforma
June -Qtr
March-qtr
1
Waste movement (t)
2,412,399
1,951,299
2,245,137
2
Gold ore mined
341,567
284,771
308,681
3
Strip ratio (waste/ore)
7.1
6.9
7.3
4
Ore milled
represents 4.6Mtpa
1,150,000
958,778
1,018,840
5
Mined ore as % ore processed
30%
30%
30%
6
Head grade
1.10
1.04
1.10
7
Recovery
90%
88%
90%
8
Gold recovered
36,604
28,211
32,429
9
Gold sold
as per announcement
41,468
30,483
38,757
10
Adj production
41,468
30,483
38,757
11
On-site production costs
assuming $15.4/t material moved
42.3
30.9
22.3
12
On-site admin costs
2.2
2.2
13
Royalties
0.7
0.7
0.7
14
Credits
-0.9
-0.9
-0.3
15
Total cash costs
42.2
32.9
24.8
16
Cash costs (US$/oz)
17
Per ozs basis
18
On-site production costs
1,018
1,013
576
19
On-site admin costs
72
57
20
Royalties
17
23
17
21
Credits
-21
-28
-9
22
Total cash costs
1,014
1,080
641
23
(in US$M)
24
On-site corporate costs
0.8
0.8
0.7
25
Exploration costs
Higher exploration during Qtr
5.0
0.7
1.8
26
Capitalised stripping
1.3
5.5
27
Capex
0.5
0.5
0.8
28
6.3
3.4
8.8
29
Per ozs basis
30
On-site corporate costs
19
26
18
31
Exploration costs
121
24
47
32
Capitalised stripping
43
142
33
Capex
12
17
21
34
152
110
228
35
Total AISC
1,166
1,190
869
36
$/material mined
(on-site costs + capitalised stripping)/material moved
15.4
15.4
11.8
37
$/milled ore
36.8
34.5
24.1
BDR Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
