But AISC includes the cost of Capital items, including all costs in building the E15 Service shaft that becomes a Life of Mine asset and upgraded ventilation and dewatering protection also. In this case, you should be looking at the cash costs of operating the mine as most other Capital costs will disappear from July this year.
So yes definitely a cash drain for the current year and more importantly a loss of 90,000 ozs in reserves from production that hasn't generated any cash.
Also I'll believe the Q4 production target of 30 to 35k ozs when I see the actual figure in July.
This new CEO has yet to prove himself, in my opinion and I believe his elevation to Managing Director is premature.
MML Price at posting:
45.5¢ Sentiment: None Disclosure: Held
