Steely77,
Only HAV's share of production is hedged.
As part of the Loan and Risk Management Facility with Investec, HAV was required to sell the first 10,000 ounces of its share of the gold produced from the Portia Gold Mine into the 10,000 ounce gold hedge with Investec.
HAV did not have the option to sell into the spot price market first.
Without the hedge, HAV would not have been provided with the loan facility. Investec was protecting itself against the gold price dropping.
Cheers
These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional expert
Ann: Quarterly Activities Report - Period Ending 31 October 2016, page-3
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19.5¢ |
Change
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Mkt cap ! $66.15M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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|---|---|---|
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