Hey Yatchy, in the mining industry, I have finally, painfully realised..... that there is zero, zero zero chance a project is risk free. I think CMM is going to have to hedge a lot, I mean a LOT of its gold to secure the sort of debt facility they need. The quite a few of their years of production having AISC near to AUD $1400 per ounce, that will I feel, increase risk even though I know its all about decreasing, i.e. They will make a bit of cash in the middle years, and yes, hopefully they will be debt free by then, but.... as per my post, the term 'smooth sailing' just does not register for me anymore with mining and in particular, developers.
The low strip will def help, I agree with you, but they will still need to move a lot of dirt. A 3.7mtpa plant requires a heck of a lot!
Ann: Karlawinda Exploration Update, page-88
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