geez... $2020 AUD gold; soon even .8 g/t mines will be profitable
it would be so nice to 'see' that new mine plan; as of 1 June it had GCY into VA (when gold was $1850); that mine plan will have a dollar price of AUD gold that makes the company viable; is it $2050, is it $2150 or is it $2250
by my calcs the 'hedge' book loss of $29 mill (when closed out at 1880) is almost 'recouped'; hedge was at 1700, close out was 1880 (a diff of $180 oz); now POG has increase 'almost' $180 since then. So instead of 'losing' ANOTHER $29 mill on hedge, they could 'hedge again' an be at break even
anyway, the point.... at what POG does GCY become viable.... as the kids in the back seat of the car say 'are we there yet?'
Ann: Administration Update, page-21
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