Interesting situation IMO...as far as I know they are not exposed to gold hedges and it is the copper hedge book they are closing out. One would ask why?
. Could it be that they are very bullish on the copper price? I assume this is the reason, which is why I am interested as an owner of several stocks with unhedged copper exposure. I imagine that as a part owner of a metals trading company, they would be very well placed to hold a view on the outlook for the price.
. Could it be that they want to give their metals trading company some turnover?...I hope this is not the reason.
. Could it be that they are anticipating more interruptions to their production at the Tritton mine where they declared force majeure once before? I hope not!
Anyway, I expect the price should do well after the close out as per a number of other miners who have done the same eg. Newcrest, Lihir. They have plenty of exposure to a increasing copper price, so bring it on!
regards
DF
srl trading halt, page-3
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Last
42.0¢ |
Change
-0.010(2.33%) |
Mkt cap ! $37.89M | |||
| Open | High | Low | Value | Volume |
| 42.5¢ | 42.5¢ | 41.5¢ | $20.98K | 49.99K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4350 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 12367 | 7 |
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| Last trade - 15.47pm 27/09/2024 (20 minute delay) ? |
| SRL (ASX) Chart |