the question everyone has strangely ignored

Most on here have stuck to MAK's initial rough guide (which the market has correctly punished it for failing to refine) that costs will be around AuD 150/t. Some have even gone so far as to read ADs more recent comments that MAK would be profitable at unspecified 'current' RP prices as indicating costs could be lower than this - but I wonder why no one has commented on the costings released in the bulk sampling.

MAK states that excavation alone for stage 1 (ie the 10,110 tonnes of DSO) will cost 3m excluding a regeneration bond. This is almost $300/t for DSO!
Now I understand there are economies of scale achievable on a 500k t or 3m t DSO versus 10k but not that much surely? Perhaps the $3m is mainly for equipment or other 'one off' costs but surely if this were the case MAK should have spelt this out by breaking down the costs to assure shareholders? I can't help but feel - as a former holder - that in the absence of clear evidence of a firm DSO cost/t figure, the market has got the pricing of MAK correct.