Why do people stay married when they know the relationship is as Crook as Rookwood?
I’ve seen good situations go pear shaped and bad situations get a left field reprieve................... hopium is a powerful and somewhat addictive substance.
Just on another tack ............ (from memory) did you know ALK has about 100,000 oz hedged at about AU$2,850/oz and BGL has a bit hedged as well (would need to look up the exact number of Oz’s and $$$figure/oz again)................ it was a requirement of their Financing Agreement.
I think it’s circa two and one year’s production respectively.
Your graphic with the Ag and Ag Equivalent could also have a Hedged and Un-Hedged Equivalent
Some of these Financing conditions regarding Hedging, invariably costs Hundreds of $Millions in forgone revenues.
MKR Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
