No there is probably little chance of being economic (depending...

No there is probably little chance of being economic (depending how you define that personally - for me its to be a minimum of $100 above cost per oz.)

But there is damage minimisation.

Need to also consider what happens with falling POG, ie the hedge book becomes more valuable. At $1,150 for example the value of the hedge book (assuming 180k oz remaining) is roughly equivalent to their market cap at 16.5c SP ((not looking at a net asset value, just hedge value)

I know it sounds like a silly thing to say because a reducing POG reduces the long term value of their assets, and probably wipes out their viability, but it is a silver lining for shareholders to hold on to. By no means a reason to invest in it though, imo anyways.

The question is, can management determine a better way to operate at a low POG. You cannot discount this. The mine was set up at a POG and cost structure that is completely different from current envuronement...certain scenarios would not have been considered (eg much decreased throughput though with higher grade - thereby not needing expanded plant).

I have no idea whether a scenario is viable, but good management would be considering all avenues right now.

In meantime, there's only one gold stock (imminent producer) I'm happy to hold at the moment.

Cdchi1