large gold producer

OGC is a large scale NZ gold producer amongst the top 5 producers in Australasia.

Made a 10 million dollar unrealised loss based on future hedge expected losses.

In reality OGC is a profitable producer at $US750 per ounce.

As gold prices increase beyond $US750, for each $US50, OGC increases its profit dramatically and whilst ameliorating its hedge book can book spot sales conservatively of 40,000 ozs per month. $US2 million dollars per month INCREASE in profits per $50 increase in GP.