Hi Foyt,
I agree but ....
Now that the hedge is worth so much how should anyone feel if the price of gold starts increasing strongly without PGI cashing in the hedge - obviously it would be a wasted opportunity.
I think PGI has determined when to sell and are now just waiting for that to be triggered.
What if the price keeps dropping? I imagine the trigger point will when the consequences of a falling price will limited ie when the MacBank loan can be paid out plus some of the preference share holders.
If the price never turns northwards then everything is just academic, if (when) it does turn it would be great for PGI to be debt-free.
T
Hi Foyt, I agree but .... Now that the hedge is worth so much...
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