Have been a holder in the past and got burned. Went from a steady dividend paying Goldie with Duketon alone operating at 100kOz a year to out of no where buying Tropicana and Duketon falling off a cliff with output dropping 30kOzs and ASICs doubling. Obviously one explains the other. Not sure why the hedges were out in place and why for so much…It was pre Tropicana but have been a massive drag on the company for years . Macquarie would have mad a billion easy from the hedge deal. Anyway this is getting very very interesting gold prices at above 3000 AUD probs make an open pit at McPhil feasible. Tropicana at least also seems to have some life left in it. The latest drop in oil also just as important. To take advantage of hedge book closing it is probably the time to buy now as isn’t factored in yet.
I agree with others that both hedge book and Mcphil arnt prices in. Will prob look to buy a small parcel on next dip. And more when it is clear what they will do with profits. Will they go back to divis or look to buy more Tropicana?Will Mcphil finally get started. What will the ASICS of Mcphil be? Will they be high as can’t operate 24 hrs for noise reasons and local residents or low because due to the desirable location close to a potential workforce they can maybe pay staff 1/2 of what it would cost to get people out to WA?
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