The Aussie dollars dropped from .67c end of last month to .65c Us recently just as copper dropped. The next QTRLY will look fantastically great for the drop in costs in US$/lb as a result and increased credits for Gold and silver. Besides October being a bumper month for Copper averaging US$4.38 or AU$6.53 at .67 or AU$14,640 /ton. November price as of today has dropped to US$3.90/lb or $6 AU/lb or AU$13400 a ton. That is still $900 a ton more than we got last QTR from our hedge at $12,500 at those prices. Gold and silver credits are still higher in value than the last QTR by around 15% as of today.
On a linear basis producing 1000t/month then compared to the last QTR average of $12,500 October - AU$2100/ton ahead November half way point around AU$900 at ton ahead at US$3,90
All thanks to the exchange rate change.
It all comes down to when we get paid for deliveries,which I believe is physical delivery to port.
Just my calcs, so do your own.
Regards
HGO Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
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