So it seems you still want to compare Copler(AQG) with...

So it seems you still want to compare Copler(AQG) with Syama(RSG) but I think it's important to get all the facts right if you're trying to convince investors.
You've said that Alacer went from having 'something like $US600mil' from mining the oxide ore at Copler - it was actually $US369mil at 30Sep15 - so I'm afraid your estimate is way off there. And their net debt is now $US245mil(glad to see you've corrected that). They have completed their Copler sulphide project for $US664mil so have still been cash flow positive over the last three years to the tune of $US50mil from their oxide operation whilst building the sulphide project.
Project payback for Copler sulphide is 3.0years so they will generate $US664mil in freeflow cash over the next three years to go from $US245mil net debt today to $US419mil in cash by 31Dec21. And then there is a further 17years of mine live for shareholders. And also in the meantime they have made further oxide discoveries at Cakmaktepe and Ardich that will keep their oxide plant near full capacity for years to come with Gediktepe a possible future stand alone option.
It is not possible to predict a project payback for Syama sulphide as nobody knows how much has already been spent on the project to date and how much is still to be spent and shareholders will be lucky to ever see that figure in writing.
And from analysts questions on the recent conference call, there seems to be concerns about the Tabakorini oxide getting close to going into transition ore shortly.
So comparing the pair from commercial production declaration for Copler sulphide(let's say 1April19) and ramped-up production for Syama sulphide from 1Jul19:
Copler 9 months to 31Dec19:
200k ozs $1300 @ AISC $525 = Margin $US155mil
Syama 6 months to 31Dec19:
88k ozs $1300 @ AISC $746 = Margin $US49mil
AQG will give updated AISC guidance when it declares Commercial production and I expect it to be in the range of $475 to $525.
I believe I have used your figures for Syama sulphide.
Still waiting for RSG to give us production and AISC guidance for CY2019 - I don't understand the delay. Is it a case of bad news travels slowly? They put out guidance after 12 days into their last FY and we are now up to 40 days and counting for this FY's guidance. Let's hope this time they break it down between Syama oxide, Syama sulphide and Ravenswood instead of giving just a consolidated figure which then makes it impossible to properly analyse.