If & I say if they were to hedge it needs to be in AUD it is to act as a hedge & not a punt. Not hedging the commodity & currency is what got Pasminco in trouble & NSTs costs are in AUD & so is revenue reporting.
The market is doing all sorts of things & we have seen rising gold with a rising AUD we could also see the opposite. The market has been trading particularly sensibly for a long time.
If they were to hedge I would favour either buying low delta A$puts to protect production costs & still be profitable, say A$1100 or A$1200 puts & only as far out as 12 months, alternatively they could look at a wide zero cost collar giving them upside & protection without having to fork out premium. At A$1450 spot gold I would imagine you could get a A$1200 put vs a A$1600 Call or something along those lines.
ann out: hits up to 231g/t extend voyager 2, page-22
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Last
$15.79 |
Change
-0.040(0.25%) |
Mkt cap ! $18.14B | |||
| Open | High | Low | Value | Volume |
| $15.88 | $15.99 | $15.75 | $45.85M | 2.895M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10836 | $15.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.80 | 1226 | 1 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| NST (ASX) Chart |