i hope a few are watching..., page-30

Sorry Billy, the hedge book was 185,000 ounces at 30 June at Flat forward price of $619. They aren't delivering into the hedges now because they need the cash price to survive . That means we can assume that unless they close out the hedge book they are going to have to deliver 80% of 08/09 production into the hedge book at $619

Very Ugly Situation for a distressed gold miner

But at my buy price of 8.4c you are getting a lot for your money if they pull through without more dilution, so worth a punt for a brave speculator

Obviously a few others think so judging by the volume at the close

I think Stawell will save the day. It can produce upto 140,000 ounces a year at sub $500 cash cost when the grade is good. Without Stawell PSV would have been stuffed.

This is distressed company and buying now means hoping lady luck smiles on PSV the next 6 months