SBM's recent hedging of a significant amount of production at AUD770 is looking very silly, with gold already at AUD820.
How many millions of dollars is this going to cost the company? Start working it out! It's ugly.
For heaven's sake. When will miners learn - their job is to mine the stuff as economically as they can and not take a bet by hedging that the price will not rise in the future.
If funds are needed there are alternatives to entering hedging agreements as part of their financing arrangements. Just ask BSG
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19 | 1762424 | 0.205 |
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35 | 1131588 | 0.190 |
Price($) | Vol. | No. |
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0.220 | 67000 | 1 |
0.225 | 581004 | 8 |
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