If that was the way the market developed I would suggest its not great for gold miners as love them or hate them they need banks to finance mine developments, well for some of them anyway. Most Australian production is currently sold via the Perth refinery anyway which obviously has a deal with ANZ who are also linked into the SGE.
But if a bank is going to finance a gold mine they need to hedge some of the future production & to do that you need liquidity & transparency in pricing.
BDR Price at posting:
30.7¢ Sentiment: Hold Disclosure: Held
