I think you’re misreading the hedging commitments. As I read Table 4 on page 9 of the report, in the current half year the hedging contracts are at a price of 2,560 AUD per ounce, which makes the hedging very expensive insurance. The hedging price increases to over 3,000 AUD per ounce in the first half of 2026.
I think, and have thought for a long time, that NST’s hedging arrangements are seriously disappointing particularly if you take the view, as I do, that the POG has material upside.
I think you’re misreading the hedging commitments. As I read...
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Last
$14.33 |
Change
-0.240(1.65%) |
Mkt cap ! $16.47B | |||
| Open | High | Low | Value | Volume |
| $14.58 | $14.69 | $14.32 | $54.59M | 3.795M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 667 | $14.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.35 | 10216 | 2 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$14.33 |
Change
-0.240 ( 2.12 %) |
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| Open | High | Low | Volume | ||
| $14.62 | $14.62 | $14.33 | 564535 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| NST (ASX) Chart |