Ann: Far West recoveries exceed expectations, page-44

You didn’t answer my question - what is the weighted average C3 cost?. With this example is it a low cost mining project?

I’m not talking just about West 45, I’m talking about the entire project. I didn’t buy shares in the company on the basis of just West 45 which was only initially supposed to be producing around 400k ore.
This wouldn’t be producing if we were just talking about West 45 production. If you invested and thought that they would just be mining West 45 and there would be no other costs for development then you can’t blame management for that.

What West 45 was essentially a ‘starter’ mine which had a reserve proved up which could potentially be extended with exploration (which it was) and used to fund further development. During that time they had the well known weather issues last year and poor copper recoveries which seem to have significantly improved based on todays announcement and the last quarterly.

On the A$87M, check the 2015 restart study - its there. However if you want something more recent look at a broker (Hartleys etc) report which has $A21-24M for investing cash flows every year.