new year, new debt restructure, page-4

The head grade of 1.06 gm/ton for Simberi would imply that the cash costs are not attractive (i.e a slightly less the $1000/oz)- hopefully Gold Ridge (@ 1.8gm/ton will be better to improve the average cost of production. They need to get into the richer sulphide materials but this means spending +$200m on an autoclave and floatation plant - this would also push up output. At least there are no reported further stoppages to production.