Outstanding results! Who wouldn’t be happy to be a shareholder in one of the world’s best gold mining companies.
As I read the announcement, they directed 39% of their gold sales in to their hedge book. That resulted in them earning $100M less in revenue than they could have earned if they sold at spot prices. What a strong, gutsy decision! That demonstrates real confidence in a strong gold price going forward.
Ann: Half Year Results Summary, page-21
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