Assuming Karouni keeps up the positive cash flow I would say this is not the case. Importantly, if this was the case, we would have seen something to that effect given today is the 31st of July.
You can do your own calcs on cash position and current value. Given the production rate exceeds the hedging commitments it is probably fair to include the additional ounces at market rate.
TRY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
