market capital, page-34

@Nabaru01

imo the $3M DSRA is just for rebalancing purpose. As you can read from the prospectus...

The effect of the restructure is to recast the contracts related to 74,971oz of the Company’s hedge book from a forward curve with an average hedge price of $1,680/oz to a flat forward with an average price of $1,638/oz over the same time period out to September 2015.

So just from a technical point of view regarding the hedge the average sales price is getting lower an here is the difference: 75koz x $44 = $3.1M