the only thing with mcphillys i would caution is thst yes, at 2.5k aud/oz its dead in the water.
if you start plugging numbers in with 3.5k as a floor price, and not a short term peak, the outcome doesnt look quite so bad.
as with anything in the sector, depends on the gold price.
to agree with the follow up poster, i dont want anything to happen to mcphills this yr and i want to see solid cash build over the next couple of qtrs (as well as seeing if we stay at this gold price) bedore diving into something else.
id also like them to fund it organically (in a yr or 2) without hedging. this will require significant cash build first.
and spend some of the cash on a buy back to stop the bleed, ans stop any predadory corporate actions.
Ann: Becoming a substantial holder, page-34
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