a tale of two australian gold producers ..., page-17

Perhaps the problem is the forward sale of production. I seem to remember some recent forward sale or hedging arrangement. At the time I though it was a bad idea. Perhaps the market believes the POG will double in fairly quick time and so there are better opportunities.

There won't be much joy in digging gold out of the ground and receiving $AUD1300 (or whatever they forward sold/hedged for), while SLR is receiving $AUD2500 per oz for the same endeavour.