With due respect.
It may be missed but the point of hedging is really solely for setting a fixed or known price that they can deliver their product at. In this case gold into.
I believe most gold miners don't see it as an independent source of profit i.e. they aren't gold market speculators. What they do is lock in a price they can get, then produce oz. (perhaps by buying leases) to do it, profitably.
IMVHO, Ramelius' strategy to do that (including hedging as a component) has been highly successful in this regard as evidenced by the SP move up.
RMS Chart, page-28
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Last
$2.14 |
Change
0.020(0.94%) |
Mkt cap ! $2.477B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.14 | $3.040M | 1.404M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 77989 | $2.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.15 | 39193 | 37 |
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| Last trade - 13.48pm 08/11/2024 (20 minute delay) ? |
| RMS (ASX) Chart |