Firstly nogojo by my defintiton market cap ove $300m is no longer a small co.
To those leery of the run in price sure the $A gold price can fall back. However, as a start: at last years AGM; in the quraterlies and as a condition of bank financing, an amount will be hedged, probably by a combination of forward sales and puts. My guess 40% (but I am comfortable at 60%).
I know both Cookie and Warren Hallam have done the Masters of Minerals Economics, so they the theory, importance and nauances of hedging, apart form their practical experience. Yes, it may run back on speculation but these guys are there to dig the dirt prfitably (for yrars) the best part is they have alot of their own skin in the game.
MLX Price at posting:
$1.35 Sentiment: Hold Disclosure: Held
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