The Golden Rule of Banking is that he who has the gold makes the rules.......although the irony of this rule in relation to a bank lending to a gold miner isn't lost on me!!!
When RED was seeking finance for KOTH, Ukranians were enjoying relative peace, the gold price was about USD$1,750, the AUD bought about 70-75 US cents and inflation in Australia just wouldn't rise above 2-3% pa. The hedging undertaken at the time to secure the finance for KOTH seemed perfectly sound business practice as far as RED is concerned and sound lending practice as far as the lenders were concerned.
Hedging
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Last
37.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.516B | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.8¢ | 36.5¢ | $9.880M | 26.69M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 594299 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 729768 | 8 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |