I don’t think people appreciate enough VAU due to the fact we sell almost as much of gold at spot as GMD does.
Our forecast this half is roughly 200k in ounces and 76k of that are the hedges which leave 124k ounces at spot (GMD sold some 59k ounces in their last reported qtr). The VAU share price should at least be 70c at this level of POG. LT better f hit that forecast to preserve any credibility.
I think we are being setup to be taken over by GMD on the cheap, or the market just doesn’t like our management.
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