"This is not acostto RRL, it is alessening of revenuethat amounts to the difference of the hedge price and what they would otherwise have gained by selling into the open market"
The lesser revenue is a 'cost'. ie the otherwise loss of about $200m in revenue. Ths 'cost' can be either realised immediately or slowly, as they are currently doing. However, I consider that this has already been factored into the sp, in the ST.
Ironically, if the POG drops, then RRL would be in a better relative position than most of its peers.
RRL Price at posting:
$2.91 Sentiment: Buy Disclosure: Held
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