I also located this slide from last year's SA Explorers' presentation given by Dr Giles, see slide 28 below.
The Portia Gold mine was being budgeted on a A$1,580 ounce gold price per the presentation (slide 27).
At the time, I think HAV Management considered themselves "lucky" when the 10,000 ounces of gold was hedged given what happened a month later and also given the 2 year gold price in AUD/oz at the time:
Cheers
These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional expert
Ann: Quarterly Activities Report - Period Ending 31 October 2016, page-4
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Mkt cap ! $55.41M | |||
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