At the time the GPA was a reasonable price to deliver gold. Gold price has ripped since so looks like a "bad" deal, however, if EMR went elsewhere for debt then they would have had to do more formal hedging. Sitting around hoping gold price goes up is not a sound business strategy either. More formal hedging, imo, would likely have required more ounces covered (relative to the GPA) albeit, likely at slightly better gold prices (i.e. futures/oppies closer to spot at the time) but net net, could be a worse deal. Either way, the debt providers get their pound of flesh if you want to build a mine, its a cost of doing business, but still a modest one on the way to a multi mine producer that will likely end up trading at a premium multiple if not bought out before then.
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At the time the GPA was a reasonable price to deliver gold. Gold...
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Last
$3.34 |
Change
0.020(0.60%) |
Mkt cap ! $2.131B |
Open | High | Low | Value | Volume |
$3.34 | $3.39 | $3.32 | $3.164M | 943.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 12263 | $3.33 |
Sellers (Offers)
Price($) | Vol. | No. |
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$3.35 | 4651 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 1785 | 3.330 |
1 | 1785 | 3.320 |
1 | 1785 | 3.310 |
1 | 1785 | 3.300 |
1 | 1785 | 3.290 |
Price($) | Vol. | No. |
---|---|---|
3.360 | 1785 | 1 |
3.370 | 1785 | 1 |
3.380 | 1785 | 1 |
3.390 | 1785 | 1 |
3.400 | 1785 | 1 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$3.36 |
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Change
0.020 ( 1.13 %) |
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Open | High | Low | Volume | ||
$3.34 | $3.39 | $3.32 | 364523 | ||
Last updated 15.59pm 03/05/2024 ? |
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