Yes apologies. Been a bit busy.
Steve was kind enough to clarify my main point in a previous post.
Firstly the $25M CS loan has been fully drawn, aside from $5M which forms the retained deposit. Use of these important funds will need CS consent before being deployed.
At an estimate the hedge position 'was' worth $1-3M. However the value doesnt really accelerate until the POG falls below the floor of the position, which is at $1350. I say 'was' as the price has rise in the last week, so there is nothing meaningful in the value 'today'.
In summary, we have a fully drawn loan which cannot be covered by the hedge. This is one alternative we can cross off the list.
fyi: article, page-4
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Last
35.0¢ |
Change
-0.020(5.41%) |
Mkt cap ! $2.380B | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.5¢ | 35.0¢ | $3.637M | 10.28M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 47 | 1232084 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.5¢ | 509324 | 8 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |