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Mutiny Gold Limited (ASX:MYG) has booked an $11 million profit following a strategic transaction in the gold market of the London Metals Exchange.
The gold explorer purchased 50 thousand ounces of gold at an average price of $1,491 per ounce, in conjunction with adviser Noahs Rule and a $75 million gold buying facility provided by Credit Suisse.
The strategic acquisition will allow Mutiny to deliver the recently acquired gold in to an existing hedge fund, resulting in a total gain of $11 million.
The profits will be used to repay an existing $11 million short term Credit Suisse loan.
Mutiny says it took advantage of recent weakness in gold prices in executing the transaction.
Mutiny Gold booked a net loss of $429,000 in the first half of fiscal 2013.
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Last
$1.28 |
Change
0.035(2.81%) |
Mkt cap ! $119.3M | |||
| Open | High | Low | Value | Volume |
| $1.28 | $1.28 | $1.24 | $10.04K | 7.853K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 380 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.28 | 5771 | 1 |
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| Last trade - 15.28pm 08/08/2025 (20 minute delay) ? |
| MYG (ASX) Chart |