Ozblue You are incorrect regarding AISC! The figures published...

Ozblue

You are incorrect regarding AISC!

The figures published in the quarterlies are clear - you just need to take the trouble of checking it yourself.

December quarter 2014 outflows (all in US$):
Exploration = 2.9m
Capital works = 2.1m
Development = 9.6m
Corporate = 1.7m
Totals = 16.3m

Production = 26,859 oz
Therefore outflows/oz = US$607
Plus cash costs of US$380 = US$987/oz (reported AISC was US$989/oz)

March quarter 2015 outflows (all in US$):
Exploration = 3.1m
Capital works = 2.2m
Development = 9.3m
Corporate = 1.8m
Totals = 16.4m

Production = 23,940 oz
Therefore outflows/oz = US$685
Plus cash costs of US$391 = US$1,076/oz (reported AISC was US$1,073/oz)

June quarter 2015 outflows (all in US$):
Exploration = 2.6m
Capital works = 2.2m
Development = 9.6m
Corporate = 2.0
Totals = 16.4m

Production = 26,542 oz
Therefore outflows/oz = US$618
Plus cash costs of US$390 = US$1,008/oz (reported AISC was US$1,076/oz)

I don't know why MML reported their AISC some US$68 higher - but it certainly contained Development outlays!

CPDLC