Book build will set the placement price.
Not sure i agree with the logic of closing out the hedgebook, as current hedge book liability is US$89mil
But the net benefit using POG of US$1100/oz is approx US$55mil NPAT.
So why would you do this?
A.maybe expecting greater ounces for 2010.
B or higher gold price.
Anyone care to comment?
trading halt...nc, page-6
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