CRS HEDGE POSITION @ 300905
*Negative $13.4 mil (@ then current Gold Price A$631)
*June 05: forward sold 128 K oz @ $578 (+ 60 K oz sold call opt @ A$613)
Sept 05: forward sold 164 K oz @ $581 (+ 60 K oz sold call opt @ A$613)
Increase net forward sales by 36 K oz during Sept qtr.
Since end of Sept A$ Gold price has risen to current A$693.
So in effect they have put themselves in a particularly stupid position of having a hedge position equal to 2 years production and at a price which currently guarantees they make a loss.
Since 2003, CRS have never met any of their targets –either Production rate or Cost.
Their current target is 130000 oz/year and god help them if they can’t make that.
Imagine a Gold price of US$750/oz.
It should be a gold miner’s dream – if CRS cannot quickly fix their declining high cost production, instead of a big run in gold being a dream, it would be their nightmare.
If production cannot fill their hedges, and if they are forced by creditors to keep hedging, it will be messy.
I am in awe of their capacity for mismanagement.
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Last
3.0¢ |
Change
-0.001(3.23%) |
Mkt cap ! $10.16M |
Open | High | Low | Value | Volume |
3.1¢ | 3.1¢ | 2.9¢ | $2.203K | 75.00K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 200000 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 229142 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 200000 | 0.028 |
1 | 150000 | 0.027 |
1 | 150000 | 0.026 |
2 | 280000 | 0.025 |
2 | 800000 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 229142 | 3 |
0.032 | 117993 | 2 |
0.033 | 60000 | 1 |
0.034 | 25000 | 1 |
0.037 | 41945 | 2 |
Last trade - 13.42pm 28/10/2024 (20 minute delay) ? |
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CRS (ASX) Chart |