BGL undertaking a $156mil CR at heavily discounted 85c!!
Company that goes into suspension is always bad news.
To raise working capital and close out hedge book.
You have to wonder if it is orchestrated by Macquarie which BGL owes some A$100mil.
FY25 annual guidance, which was heavily weighted to the second half of the year, has been revised down to 129,000-134,000 ounces (previously 150,000-165,000 ounces)2 , with FY25 all-in sustaining costs (AISC) guided to A$2,425-2,525 per ounce.
...in buying and holding physical Gold, we don't have to worry about any such under-performance related to company specific risks and circumstances.
...suffice to say that any company that has a big debt to a bank would be expected to come under some pressure as banks are looking out for their own turf to safeguard their loan assets. And the company's going concern fate hinges on the financiers willingness to keep them afloat.
