CAI 0.00% 11.5¢ calidus resources limited

CAI Valuation - comparison to peers, page-173

  1. 385 Posts.
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    What makes you think Macquarie are making so much on the hedge? I assume you mean Macquarie are making what CAI are losing on the hedge? I would have thought Macquarie are just the middle man between the Seller CAI and the buyer of the gold, and therefore just getting a small margin as broker.
 
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