"So at 850 a week I would calculate weekly cash flow as (850*(1275-35) - 844 = 210K per week"
210k per week - woohoo. Er, maybe not... They have US$5M owed in less than 65 days, so:
US$1.5M in cash currently
and US$210K X 13 weeks (lets be generous) = US$2.8M
Equalling = US$4.3M
So, yes they are short US$0.67M with less than 65 days to pay...
Another wonderful statement from P100 (they are so good):
"I have deducted $35 from the hedged gold price for hedge transaction costs. I am not 100% sure of this as I don't know if the hedge at 1275 is a gross or net number so I have used worse case and assumed it is gross. The previous hedge was at 1358 and net was 1320"
It might help to read the quarterly - they are selling at spot. Currently at US$1224. I wonder why they are selling at spot? Lets see whether tomorrow might provide a hint.
Best as always...
PGI Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
(20min delay)