RE:RE:I sure dodged the bullet here
Your table math is off because you are conflating two different concepts: cost recovery and profit. If they were to mine 1.6 million ounces at a $500 profit per ounce then they would not only recover their initial investment of $800 million but would also have a profit of $800 million. If you are just looking to recover your capital cost then no profit is necessary, all you have to do is breakeven on the project.
So on a cost recovery basis, I believe the payback based on initial capital projections was less than 3 years. Based on these revised capital cost increases that should now be closer to 5 yrs which is still respectable based on the fact that Magino is expected to be a long life mine asset.