CRS HEDGE POSITION @ 300905
*Negative $13.4 mil (@ then current Gold Price A$631)
*June 05: forward sold 128 K oz @ $578 (+ 60 K oz sold call opt @ A$613)
Sept 05: forward sold 164 K oz @ $581 (+ 60 K oz sold call opt @ A$613)
Increase net forward sales by 36 K oz during Sept qtr.
Since end of Sept A$ Gold price has risen to current A$693.
So in effect they have put themselves in a particularly stupid position of having a hedge position equal to 2 years production and at a price which currently guarantees they make a loss.
Since 2003, CRS have never met any of their targets –either Production rate or Cost.
Their current target is 130000 oz/year and god help them if they can’t make that.
Imagine a Gold price of US$750/oz.
It should be a gold miner’s dream – if CRS cannot quickly fix their declining high cost production, instead of a big run in gold being a dream, it would be their nightmare.
If production cannot fill their hedges, and if they are forced by creditors to keep hedging, it will be messy.
I am in awe of their capacity for mismanagement.
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Last
4.6¢ |
Change
0.006(15.0%) |
Mkt cap ! $12.84M |
Open | High | Low | Value | Volume |
4.0¢ | 4.6¢ | 4.0¢ | $79.08K | 1.844M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 18048 | 4.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.6¢ | 120889 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 18048 | 0.044 |
2 | 254645 | 0.043 |
2 | 2000000 | 0.041 |
3 | 1361987 | 0.040 |
2 | 1500000 | 0.039 |
Price($) | Vol. | No. |
---|---|---|
0.046 | 120889 | 1 |
0.048 | 378604 | 2 |
0.050 | 800000 | 1 |
0.056 | 71820 | 2 |
0.060 | 110000 | 1 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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CRS (ASX) Chart |