yep, here’s what the report says... if they deliver 20k ounces per quarter into the hedge, that’s 19 quarters or 5 years to get rid of the hedges... geez, whichever bank or institution squeezed that out is making a motza.
”As previously reported the Company is working to reduce its long standing hedge position and has been delivering into its lowest priced hedges over the last 12 months. In the September Quarter the Company delivered into 20,000 ounces of hedging.
At the end of the September Quarter the hedge position was 379,494 ounces at an average delivery price of A$1,615 per ounce.
The rate of delivering into the lowest priced contracts will continue to be assessed for adjustment. Any changes to this rate will consider several factors including prevailing gold price outlooks, internal cash demands, capital expenditure requirements, dividends and any changes to Company life of mine production plans. “
RRL Price at posting:
$4.65 Sentiment: None Disclosure: Held
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