U235 that was the new celebration plant the reason it is still...

U235 that was the new celebration plant the reason it is still sitting there is that It will cost them 47m to relocate it and set up. FML has a plant at Coolgardie 1.2my t/annum,on care and maintenance, 100km + to truck it and a minimum of 30$/t to treat. AVO has a new plant at Higginsville coming on stream however it will have no spare capacity in the foreseeable future. Diora have the Jubilee plant 1.2my t/annum. Trucking distance about 100k and no spare capacity in the next 2-3 years. There is a clapped out plant at Norseman which needs refurbisment and is a possibility however with ug production ramping up from the old Croesus operation it likely is not a viable option. Kal requires at least a 1-2myt/annum plant to make their low grade viable. Having done several pit optimizations in the past couple of years on similar grades the cost structures preclude profitability at under $1000/oz Aus gold price. A new plant is a minimum $50my capital cost and 2-3 years before it is availble. There is a possiblity that KAL could source an existing plant second hand and relocate it in under two years but relocation would be expensive.
It is dangerous to try and equate in situe value of gold in the ground to mkt cap, you need to look at the quality of those ozes and in particular the grade because that is the king.