Ann: Trading Halt, page-10

A swan zone in lieu of a swan dive be noice

The grade has made the previously clapped out Fosterville Australia’s cheapest producer of gold, with operating cash costs in 2019 forecast at $US170-$US190 an oz. Only two mines which come with a copper leg, Newcrest’s Cadia and Glencore/Evolution’s Ernest Henry, can manage lower gold production costs (after taking the copper as a credit).

The chances of a junior explorer stumbling on to another Swan Zone is extremely remote. But as long as local gold prices remain at these elevated levels, the incentive to find even a small but high gold deposit remains strong.