It will be interesting to see how much expenditure in relation to the Corporate Update dated 2 March, 2018 has been incurred in Q2.
Just to highlight some of this proposed expenditure:
* refurbishment program for the Mining Truck fleet for approx. $20mil over two years.
* structural refurbishments of key infrastructure at Port Latta, including the pellet plant and the offshore structure for approx. $8mil.
- both of these are classed as 'sustaining maintenance' so will get lumped into unit operating costs as incurred.
* feasibility studies for Centre Pit and Long Plains
* first stage of feasibility study into underground development in North Pit for $10mil
- both of these will be written off to Exploration and Evaluation expenditure as incurred.
Additionally, the last quarterly report said they had purchased 3 additional trucks that will be commissioned in Q2 to increase material movement. Unclear if this cost was incurred in Q1.
Hopefully the above expenditure will be spread over several quarters so that it doesn't impact any one quarter disproportionately. I have allowed for an estimate of this expenditure in Q2 in my above figures so hopefully will not get a nasty surprise.
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