Hello,
I believe DRD and SBM are free from hedging. I think NEM is as well.
SBM is also a high cost producer which, strangely enough, is of benefit with a marked rise in POG. It operates only in Australia.
DRD is fairly high cost I think. It is South African.
NEM is the biggest gold miner in the world, mining on several continents. It's the American company that bought Normandy (which was massively hedged).
BJFWIW eh.
bye.dub
gold going to hammer, page-14
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