This comment shows total lack of understanding of Reserves and how they are calculated. Not every ounce in the pit costs the same to get out, those close to surface are cheapest and may only cost a fraction of those that are deep. A drop in the gold price and the pit would shrink but the whole lot is not underwater. That’s why banks like Reserve tails.
Ann: Karlawinda Optimisation Study Delivers Increase to NPV, page-27
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