Hi Kingston,
It seems management are expecting the capitalised cost to peak $69m in June this year before being clawed back into the P &L account as the strip ratio progressively decreases from the average.
$69m @ 25c per lb = 125 KT. Which seems to equate to the measured and indicated resources.
I thought the current mine plan only ran on for a couple of years and claw back calculations would be based on the 45KT that will be left in reserves post June 17.
Ann: Hillgrove Resources 2016 Annual Report, page-3
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