Obviously sentiment in the gold sector is in the toilet. However gold price in AUD is still floating around 2500. Most Goldie’s I follow have some hedging at around 2200 so hedges are still out of the money. Gasoline/diesel prices have come off a bit but not that much in terms of AUD. However hopefully Goldie’s have been able to have taken whatever reduction in costs they can. Covid staffing shortages have hopefully been sorted out. Therefore despite what is happening with the gold price in USD is there the potential for the margins of Aussie Goldie’s who deal in AUD to have actually improved despite the prevailing sentiment and for AISCs to come down? Unfortunately we will have to wait until the end of October at best to find out.
CMM Price at posting:
$2.59 Sentiment: Hold Disclosure: Held
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