at least they are not delivering into the hedge anymore at $846.....can you imagine where the SP would be at existing cash costs if the were reaping $1500-1700 on C1 costs of $800....
Even if POG holds/stabilises around $1400 and they can keep costs maintained Revenue and profitability will grow markedly and the royalty payments and other expenses will be manageable.
ONe interesting footnote to the review is how MQG are earning Libor + 7.5 and Libor + 10 for their two facilities.....not a bad earn for a company that is not in exploration phase and is profitable.
Dropped from 2.30ish to .83c......former holder might have to have a closer look
Ann: Press Release - March Quarter Report , page-4
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