Swiv - see below from 2012 AGM report, regarding forward sales :
Revenue protection
As a pre-requisite for drawing funds under the EGM debt facility, 230,000 ounces of gold were sold forward at an average price of US$1,250 per ounce for delivery in the period from March 2012 to December 2014 under bullion forward sales contracts. This amount of gold equates
to approximately 7% of the gold contained in currently defined Ore Reserves at the EGM and approximately 25% of forecast gold production in the period from March 2012 to December 2014.
During the period a total of 40,000 ounces of gold
were delivered under the forward sales agreement at
an average price of US$1,219 per ounce, reducing the company’s hedging commitment at the end of the period to 190,000 ounces of gold at a weighted average price of US$1,256 per ounce.
In addition, options granting the right but not the obligation to sell 75,000 ounces of gold at US$850 per ounce in the period from July 2012 to December 2013 are held as part of the group’s financial risk management strategy.
is the market completely irrational?, page-38
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Last
$2.73 |
Change
0.090(3.41%) |
Mkt cap ! $3.750B | |||
| Open | High | Low | Value | Volume |
| $2.72 | $2.75 | $2.70 | $17.12M | 6.284M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11100 | $2.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.73 | 154758 | 7 |
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| PRU (ASX) Chart |