Did you notice this in the last quarterly report on the first page?
"Credit facilities have been established with the Commonwealth Bank to.....secure a hedging facility."
On p.4 we see SBM has decided to hedge..."the hedging represents 60% of forecast gold production for the next 18 months..."
They have capped themselves at AUD$770 per ounce.
Where's their confidence in the future gold price? We're in a gold bull. Good grief.
When will gold companies learn their job is to get the gold out of the ground economically and sell it, not enter into hedging commitments...
gold hedging...hmmmnnn
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Last
21.0¢ |
Change
0.005(2.44%) |
Mkt cap ! $171.7M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 21.5¢ | 20.0¢ | $1.033M | 4.950M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 65150 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 926460 | 17 |
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| SBM (ASX) Chart |