I have not checked where specifically. I just note their costs are much higher than PRU, which is also operating a low grade deposit (PRU are in Ghana). Perhaps it is as poster Rowingboat suggests, that PRU is currently mining some of their higher grade ore (thereby lowering their average cost of production).
CGX are back on track in terms of meeting their expected production levels. We should know more about their costs in the quarterly report to be released this month.
There seems no hurry to buy the goldies as they are likely just going to get cheaper in the next few weeks.
At least CGX did not drop today, which is a positive.
Check out the hedge, which I think gets cleared at the end of 2013, and note the strong cash position of the company so they ought to one of the survivors in a downturn.
loki
CGX Price at posting:
$1.84 Sentiment: Hold Disclosure: Held
