SLR hedge book is in far better shape.
Due to gold price movements, RED shareholders are now a further 50 million dollars better off since merger deal was announced back in early Feb.
CY24March Q 12,000oz @ $2,841 OTM $620 = $7,440,000
CY24June Q 12,000oz @ $2,841 OTM $620 = $7,440,000
CY 24Sept Q 13,000oz @ $2,841 OTM $620 = $8,060,000
CY24 Dec Q 13,000oz @ $2,841 OTM $620 = $8,060,000
CY25 March Q 15,000oz @ $3,145 OTM $315 = $4,725,000
CY25 June Q 15,000oz @ $3,145 OTM $315 = $4,725,000
CY25 Sept Q 15,000oz @ $3,145 OTM $315 = $4,725,000
CY25 Dec Q 15,000oz @ $3,145 OTM $315 = $4,725,000
Total hedge liability $49,900,000
Movement since merger announcement Gold price + $341
110,000oz x $341 = $37,510,000
Hedge liability has increased by $37,510,000 since merger announcement on 5th of Feb.
RED
256,439 * ($3,460 - $2,584) = Hedge liability $224,640,564
Movement since merger announcement Gold price + $341
256,439oz x $341 = $87,445,699
