Market cap: $50mln
Production target: 150,000 OZ
Cash cost: $800
Current gold price: $1450
Margin: $650
Potential Cashflow margin: 650*150,000 = $97.5mln.
Hedging loss: $43mln
Potential Cashflow after accounted for hedging:
$97.5mln - 43mln = $54.5mln.
Cash: $22.6+16= $38.6mln
Debt: $38mln of convertible notes....
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