I see the hedging in a more positive way. At the end of calendar 2022 it will amount to 150k ounces which will not be a huge percentage of future production. If production ounces are replaced by exploration success the problem from a valuation point of view will diminish reasonably quickly. I think the hedging liability is more than accounted for in the current share price. When the RRL share price was significantly higher the hedge book was also significantly larger but it is starting to look like more of a manageable problem.
RRL Price at posting:
$1.77 Sentiment: Buy Disclosure: Held
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