Thanks Joe, I'm aware of the history having tracked SLR from 2011 or so.
Where many received the news that VAU were taking the cutoff grade down to 0.23 on a $4,500 price assumption was I was actually enthused by the news. Not because I think running a gold mine at that grade is good business practice but for the signal it sent that management have changed their view on the gold price outlook in general. I.e. No more hedging.
In relation to the BGL issue, the fact that they didn't have an advisor in the process (according to the article) also gives comfort that maybe they are just kicking tyres down there.
If those assumptions hold then it just falls on the gold price to come through as anticipated..
VAU Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
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