Very nice move to switch to a 60% put option strategy.
Big tick from me on this one.
Locking in 3k per ounce whilst leaving 60% of production leveraged to gold price during a high capex period is a master stroke.
My question is now not will they delay open pit mining; it is now how long will they delay open pit mining?
They simply will not have the capital to finish their original TGEP mine plans unless they decide to tap the market.
Ann: Quarterly Activities Report, page-16
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