Gold at $2775 seems like a pretty good price given last year we hedged around $1800 at this time of year. At $950/oz extra and say 25k oz for the quarter, we bank an extra $22.5 million. By now it's a safe bet we have $100 million in either cash or gold inventory. Those snippets we got in the first week of both June and July were quite useful. Maybe we might hear how July has gone???
AMI unwound hedged position + AFR article yesterday, page-10
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