The issue now is lack of trust, and why Macq pulled the plug and wanted a big chunk of the debt paid now, esp in a rising gold price environment.
I suspect there are some operational issues (power/water, filling the mill etc)and Macq may have got nervous.
Also the hedge i believe is ~$150M out of the money/ in Macq's favour so they are now essentially free carried. The higher the gold price, the more ahead Macq goes lower their carry risk.
I have another small order at ~$1.30/sp for when the operational issues become known.
The issue now is lack of trust, and why Macq pulled the plug and...
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Last
$1.30 |
Change
0.005(0.39%) |
Mkt cap ! $1.657B | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.30 | $1.25 | $9.627M | 7.524M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 400 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 158111 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| BGL (ASX) Chart |