Assuming USD/AUD rate of $0.70 and tax rate at 30%, 900,000 ounces sold per year, every US$100 increase in the price of gold adds 12c per share in earnings (straight to
profit). Equates to $2.40 @ 20 PE, $3.60 @ 30 PE.
Given 15% hedge remaining and greater exposure to spot price.. based on where some commentators are saying gold is headed this could get very interesting..
Assuming USD/AUD rate of $0.70 and tax rate at 30%, 900,000...
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