Has any one had a look at bc8 ANN today ? I would be interested in your thoughts . I believe they are pretty close to the mark with what companies need to follow once they are in a position to do so. My thoughts it is a very well thought out strategy to protect their profit and manage their costs .
Black Cat’s Managing Director, Gareth Solly, said: While Black Cat is not a bullion bank, we are not a cashbank either. It is hard to justify producing a safe haven asset, in gold, and then converting that asset into anasset losing its purchasing power, in cash.After working capital and growth requirements, we are setting $20M of gold aside, comfortable in theknowledge that gold is a high-quality, liquid asset. At the end of the day, we are in the gold business andinvestors can choose Black Cat because they are seeking leverage to gold. And yes, the gold price could godown, and we will hold sufficient cash to cover such a contingency.We will regularly review how the strategy fits with the Company’s cash requirements, risk profile and investor
BCN Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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