I think a lot of investors are second guessing a lot of things at present.....
Am guessing they have probably had to forward sell 60k oz over a three year period, depending on when the sale was done am guessing the average price would be about $1500 AUD.
Therefore using the $650per oz profit about $40 mil locked in, keeping CBA happy.
Given over the next 3 years we would be producing (at least) 200k oz under third fwd sold,
Good result
UML Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
