While it is not a pleasant experience to watch the GP going south, as far Dacians is concerned 56% of FY21 remaining production is hedged at $2,046 vs. 2,194 today price 3rd of March.....with GP holding 1600 USD and AUD/USD 0.77...the spot equates the hedge. From that point the blamed hedge becomes better value than spot. Obviously it is not a nice space to be in but DCN will do better relatively to fully exposed to spot peers.
DCN Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
