Double, Double, Toil and Trouble
First impression of the technical summary of Haile is kind of a witches' brew.
In the Sept 2020 report, growth capex was envisioned at $190 million, the vast bulk to be spent in the 2021-22-'23 timeframe. The biggest components were $90 million for expansion of Tailings Storage Facility and PAG waste containment, and $80 million for Horseshoe Underground.
Now, growth capex excludes TSF-PAG, moved to sustaining capex. New growth capex of $155 includes site closure costs, previously estimated in 2020 at $70 million. So it looks like Horseshoe costs are pretty steady.
Sustaining capital increases from $411 million to $750 million (Gulp!) but this includes the previously mentioned TSF-PAG.
Horrible Haile has been a money-pit pretty much since acquisition, and it doesn't look like it's about to suddenly get better. In my opinion, of course. You might well draw other conclusions.