Have a look at the hedge contracts and the price they were written at. Then have a look at the total cost of mining an ounce of gold.
Very thin margin, if any at all.
Macquarie moving to protect its position so CAI can still continue to deliver into the contracts.
Just my simplistic look at the situation. Could be wrong.
Very similar to what Macquarie did to Regis a few years ago. It didn't end well for Regis. Share price never recovered.
Management need to spell it out and not let us all speculate.
GLTA
DYOR
Have a look at the hedge contracts and the price they were...
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Last
12.5¢ |
Change
0.005(4.17%) |
Mkt cap ! $95.16M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 13.0¢ | 12.5¢ | $180.3K | 1.433M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 396668 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 1346507 | 12 |
View Market Depth
| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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Last
12.8¢ |
Change
0.005 ( 4.08 %) |
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| Open | High | Low | Volume | ||
| 12.3¢ | 13.0¢ | 12.3¢ | 898105 | ||
| Last updated 15.52pm 16/05/2024 ? | |||||
| CAI (ASX) Chart |