I should add the costs for the open pit at mt magnet are not $400oz they are around $850 thats why put options were purchased at $1200. A price of $1200 give RMS margin of $350oz.
Mt Magnet is low grade and high cost mine at around $850 to $900oz.
Project now (assuming gold price A$1300) - production of 520,000 oz over 6 years with cash flow of $185m after capital (page 13) announcement 3/8/2011
reverse calculation of 185million/520,000 ounces
proft $355 per ounce.
Assumed gold price of $1300 less profit $355
Operating Cost of $950 ounce
Why would the market be bullish about high cash costs in a crashing market and a crashing gold price.
Gold isnt based on fundamental demand because the price has fallen very quickly. I am of the belief that its short posititions being covered and that has created a dead cat bounce in the market.
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$2.47 |
Change
0.100(4.22%) |
Mkt cap ! $2.863B |
Open | High | Low | Value | Volume |
$2.38 | $2.49 | $2.37 | $32.21M | 13.13M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 70796 | $2.46 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.49 | 23426 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 64699 | 2.460 |
3 | 21000 | 2.450 |
3 | 26617 | 2.440 |
4 | 8900 | 2.430 |
2 | 10264 | 2.420 |
Price($) | Vol. | No. |
---|---|---|
2.490 | 23426 | 3 |
2.500 | 11094 | 5 |
2.520 | 6100 | 3 |
2.530 | 1510 | 1 |
2.540 | 10000 | 1 |
Last trade - 16.10pm 08/07/2025 (20 minute delay) ? |
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