Management update reports don't highlight this. That hedging position is still killing the share price.
Q2FY22 quarterly shows 270k ounces of hedge book remains. As at 30 June they had 320k ounces of hedge. So 50k of the hedge has been 'used up'.
At 100k p.a this still leaves 2.7 yrs of hedge impact to go, a long time.
Q2FY22 shows cash & gold on hand further dropping (now $180m at 31 Dec). Which means that even with the lowered crappy dividend, their production is not covering their capex, exploration and taxes etc.
This is why the market has seriously discounted RRL. And the remaining hedge is still massive at 270k ounces.
Thanks again nordesmic
RRL Price at posting:
$1.84 Sentiment: None Disclosure: Held
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