exploration update - kaburi and smarts, page-14

To answer xhosa's question, method is based on the GoldNerds approach of working out a total cost of ownership per oz.

At $1 SP and 2m oz resource the EV/resource is 201 but applying a discount on this as not all resource is mineable the EV/mineable is 335.

So the cash costs per oz of production plus the construction and ongoing capex per oz would need to be not much over $600 to make it a good investment for me. This is possible but at lower limits of possible- so to me $1 is at upper limit of SP for the moment.

Of course in time a 3m oz resource could be announced but first steps first- 1m oz.