the point is not that it is the most profitable thing to do, it was done for access to capital to avoid dilution
(1) it was necessary to secure funding to build the mining operation
(2) if you are investing in anticipation of a gold bull market ..and you are correct in your forecast.. then its inevitable that gold will be out of the money
(3) nostradamus could not pick profitable points to swing trade in a gold bull market.. to pick both close enough to a pivot top and the correct duration that the spot price will stay under hedge point is next to impossible
I just hope as an ongoing formality they do not add to hedging unless its extremely oevrbought .. i'e the quartrly chart showing a reading in excess of 92% on the RSI, that might signify a consolidation of 4+ quarters is likely
Ann: 2024 Diggers and Dealers Presentation, page-84
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Last
$1.35 |
Change
-0.020(1.46%) |
Mkt cap ! $1.727B | |||
| Open | High | Low | Value | Volume |
| $1.35 | $1.36 | $1.34 | $10.79M | 7.830M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 94068 | $1.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.36 | 215755 | 6 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| BGL (ASX) Chart |