"So yes, the hedged gold, is literally, losing RRL money and has been for a long time."
As much as I prefer to look on AIC instead of AISC I would not do that regarding hedging prices.
Argument for that thesis:
The exploration/non-sustaining cost are only undertaken/incurred because any additional production can be sold @ AUD 2.450. Those non-sustaining costs would be held much lower if the gold price were still at AUD 1.600/oz (because investment/Capex-decisions are naturally driven by the product price)
As per report on quarterly acivites (March-quarter), page 5, guidance for FY 20/21 regarding growth capital and exploration was 88-98 million.
Calculating coming from profit before tax Regis showed earnings of AUD 123 Mio. for July-December/2020 with 173k ounces sold and an average price realized of AUD 2.317/oz. So all costs in per half year report for FY2020/2021 they are showing earnings of 712 AUD/oz (and AIC of AUD 1.606).
"So yes, the hedged gold, is literally, losing RRL money and has...
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Last
$1.84 |
Change
0.025(1.38%) |
Mkt cap ! $1.386B | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.84 | $1.80 | $4.456M | 2.446M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10918 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 44348 | 5 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| RRL (ASX) Chart |