I am the first to acknowledge the significant slump in gold price this month around $US70, however, as pointed out by Spazmund the $US -vs- Brazil REAL has been going up. http://www.bloomberg.com/quote/USDBRL:CUR
BDR has predicted production of 120-140,000oz's from 1/7 to 31/12, for arguments sake lets say 20,000 per month.
Gold Sept 1. $US1286 Gold NOW $US 1220 $US vs- Brazil REAL Sept. 1 = 2.25 - Now 2.39
I make it the Gold price dip in September would have little effect on income, if anything, slightly positive.
20,000 x 1286 x 2.25 (Sept 1) = 57,870,000 REAL
20,000 x 1220 x 2.39 (Sept 24) = 58,316.000 REAL
Of course, dollars are dependent on time of sale, however, there is nothing above that would justify a further 20% sp drop in September.
I am also heartened by NewB post 24/9 ;
"Got a relay from BDR to my e-mail to them...Weather for the quarter is very favorable, and no change of market conditions since the latest presentation"
Previously sold down on poor half due to extraordinary wet season ( but still made a profit & reduced debt $10.8mio )
Over sold on September 2014 drop in gold price.
Then I ask myself are 23 international analysts all wrong ?
http://markets.ft.com/research/Markets/Tearsheets/Forecasts?s=BDR:ASX
Just my opinion, bought some more today @ 40.5c.
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