These hedges were more than likely the choosing of the company rather than any external influence. Its been a common practice by the miners to jump in with both feet without thinking and hedge for all their worth instead of hedging incrementally.
These guys might know how to manage a gold mine but when it comes down to the financial side of things they've got no idea.
Hedging 80k a year is basically just under a quarter of production which is livable considering 270k or so is at spot but the longer they drag it out the less damage is done to the balance sheet.
Ann: Quarterly Activities Report, page-9
Add RRL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.77 |
Change
0.035(2.02%) |
Mkt cap ! $1.337B | |||
| Open | High | Low | Value | Volume |
| $1.70 | $1.77 | $1.70 | $10.34M | 5.930M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 20000 | $1.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.77 | 33162 | 2 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| RRL (ASX) Chart |