@Verily1
”Wondering why you still hold though?”
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.
