I agree with you PP. Kanmantoo is a definite goer and has been significantly de-risked with the swaptions in place.
I would like a clarification on what the swaptions actually are though. Are they a mixture of puts and calls? Or is it a basic hedging program? I suspect they are put options myself, since they had to pay $8.7m for them.
Anyway, I calculate that HGO will receive AU$3.59 per pound of copper they produce, for these swaptions. That includes a deduction for the AU$8.7m paid to purchase the swaptions.
Cash costs I think were stated at US$1.50 per pound. However, as real cash costs are in AU$, I'm not too worried about fluctuations in currency. I'm not sure what exchange rate was used to get the US$1.50 per pound, but if we use the current exchange rate, we get cash costs of approx AU$1.80 per pound.
So, we can see there is plenty of margin in Kanmantoo to ride us through any turmoil in the markets. Plus, I don't see any problem in getting finance now, in fact the swaptions may have been a prerequisite.
Cheers,
Z.
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Last
5.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $111.0M |
Open | High | Low | Value | Volume |
5.3¢ | 5.3¢ | 5.2¢ | $106.5K | 2.030M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19995 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 786598 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19995 | 0.052 |
4 | 675412 | 0.051 |
14 | 2033620 | 0.050 |
3 | 71641 | 0.049 |
2 | 73000 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 786598 | 3 |
0.054 | 962730 | 1 |
0.055 | 1649059 | 2 |
0.056 | 488371 | 2 |
0.057 | 520254 | 3 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
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