Looked at the NST quarterly, its hedge book is interesting.
At the spot gold price (A$3,652/oz), it is costing NST ~$1 billion in 'lost' gold revenue.
Evolution has hedged 100,000oz of gold over the next two years at an average of ~A$3,185/oz, relates to the Mungari 4.2 expansion project. There is no gold hedging beyond FY26.
At the spot gold price (A$3,652/oz), it is costing EVN ~$47 million in 'lost' gold revenue.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
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