I would think their AISC costs are going to rise because the...

I would think their AISC costs are going to rise because the mine is now getting impractically deep and the crusher has for some time run only 5/7 days due to delay in bringing the ore to the surface. The cutting of a massive vertical shaft is being mooted to workaround the ever-lengthening extraction delays but it's unconventional and projected to cost over $100Million, not to mention any impedance to existing operations.

SBM had a legendary run and it's been managed brilliantly but the SP is not an endless pot of gold and it's probably still a bit overvalued despite this pullback. Just over a year ago a senior member of SBM told me their estimate of a fair price would be about $1.80. (It was about 50c at the time). It turned out they low-balled it but that ~$3.60 high really amazed me and I thought it smacked of unfounded exuberance.