AXM apex minerals nl
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is this true?

  1. quickgrowth
    60 Posts.
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    22/05/09
    21:10
    Post #: 5196136
    We've been told the raising fund will be principlly used to meet commitment icure by company during the march 2009 quarter. The commitment should be hedging position, I can't find other meaning.Lets calculate 75000oz forward sell at A$1140/oz, they have produced 27000oz,so they only
    need cover the rest 48000oz position, currently gold spot price is around US$950=A$1266, 1266-1140=126 126*48000=6048000, that means only need 6mil they can cover hedging position, what about other 20mil?
    AXM Price at posting: 16.6¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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