Last year, they had reached yearly production targets a few months earlier even though the mining was suspended. It looks like they were having ore in the stockpiles. If that's the case again this year, they should boost the sale now. I think they should hedge the ore and out of the profit reduce debt as much as possible. One should not be greedy. At least hedging above $60 would guarantee a positive cash flow and a significant reduction in the debt without any SP dilution. This way sp would boost again and could reach last CR price easily. A higher SP might guarantee another successful CR if the IO rally sustains. If the rally does not sustain, the hedging above $60 would at least help reducing debt, which means a reduction in the breakeven cost as well. It would make AGO more competitive. Again the SP price would rise. The new CR with a higher SP could be used to support cronna downs which requires just 40-50m. I think the management would definitely respect the last CR price. Of course they would have to as people did trust the management and gave respect to their words. They should own that respect now.
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