Hello Jacko : )
....and the payoff for having administrators is NOT having hedging and the lack of hedging has kept Dalgaranga going?
see @danhoff useful post on the subject including:
.. “seems there was 164000 oz hedged around 1700 average; so the 1880 price at start of June, when hedge 'closed' out yields the loss of 164000x180=29millnow if GCY ever produce 164,000 oz (over the 4 1/2 years of the hedge) at 1960, they have 'accidentally' made 164000x80=13millso the hedge being closed out has lost them 29 mill and saved them 13 mill. So net MINUS of 16mill. If gold goes over 2000 AUD, then of course, the future looks better....”
Gold is about $2,700 an oz today ..... $1,000 more than the hedged price would have gleaned.
And Jacko, as far as the AISC goes, in December 2017 they were anticipating ~$1,000 per ounce.
But I think someone said in the last two quarters of 2018 it was actually averaging about $1,700 an ounce - so costs were way beyond what was expected
But reading over the recent updates it seems expenses have been going down even as gold prices go up, and -as per March update- if the drilling tests for ‘GMZ extensions’ come up trumps (am I allowed to say that word), there is two years of even cheaper mining ahead than was estimated in the current plan?
And I note you have a wise and experienced eye and that you would happier if NRW was working at a DeGrey or Bellevue but, as you say, our guys are in work out there and hopefully the smaller retail holders will somehow come through smiling as well ?
I hope you are well as are all out there in the wherever you are .
You guys are keeping our country afloat right now
thank you !
cheers
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