Thank you Paladin,
I read the report again and sure enough, we have a "stripping and ore inventory" adjustment.
I've also just seen BH!'s two posts, great work mate.
So it seems to me SBM has a "true" operating cash cost in the vicinity of $1000 per oz across the two operations, reducing to perhaps $950 in the March quarter. When admin and development expenditures are included, the total cost is about $1200 per oz.
Rowingboat.
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