My mistake, misread your post.
Ultimately I agree with what spec said, it comes down to margin. This mine is going to be a cash cow in the first few years with US$550/oz AISC.
Just an aside, the tier 1 definition is something that is a bit confusing and thrown around by companies to market themselves. I wouldn't consider any of NST's assets as Tier 1 and Sanbrado isn't Tier 1 either.
Tier 1 as used by BHP/RIO/Barrick, Newcrest etc generally means assets with lowest quartile costs, large scale (in gold terms I think 500koz per year) and long life (say reserves well beyond 10 years).
WAF valuation, page-172
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