Estimated cash costs are $A650 per ounce, so it leaves a reasonable margin at present prices especially the hedged portion of production. Cracow has been operating with a 2 year reserve now for as long as I can remember, they just spend enough every year for exploration to keep that margin. You're right though to advise caution, as with all gold miners any increase in costs or drop in price can alter the equation. So far they seem to have developed everything within estimated costs and did a great job with the hedging.
CAH Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
