Perhaps there was a newsletter recommendation or great analyst report that catalysed the long awaited impulse wave higher through supply. The most likely cause IMO is that very few investors want to sell their shares this close to production, and quite a few new investors want their hand in the bag of jewels. A lot of news is anticipated over H1 of 2021 including the beginning of cash inflow.
Going through the notes to financial statements for year ended 30 june 2020 I couldn't find any hedging commitments besides the Gold Price Participation agreement with Sprott. So assuming cash costs of $660/oz and 100,000 oz of production at average sale price of $1850, EMR will likely achieve around $119,000,000 USD/ year in cash inflow once operations achieve a steady state.
EMR Price at posting:
85.5¢ Sentiment: Buy Disclosure: Held
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