20% cost inflation
Just working my way through some of the Denver gold show presentations, those you'd expect to have excess cash are looking for "accretive" acquisitions.
Rollinson of Kinross said they are seeing cost inflation of 5-6% at their established operations. He ventured a guess that for a company building from the ground up, they're probably looking at 20%.
Rough guideline only but if true, that would have serious implications for Sabina, Latest cost estimate was ballparked at "high 4's " US$. If the true number is closer to US$600 million, that likely means we need a $200 million US equity component.
Tick tock, tick tock.