So where does this leave bgl, 152k ounces still hedged at $2843 with and AIC of well over $3000. So if cost's remain at $3400 and hedge is at $2843 they loose $550 per ounce on production and $2300 on hegde sales. $425 million outstanding on hegdes no matter which way you pay them out, $100 mil debt owed also.
So if someone buys this well oiled money pitt, $500 mill turfed in day one to clean the books up, and to potentially avoid it worsening with gold rising.
Going to be a fire sale if no decent bids come forward. My guess an amalgamation.
BGL Price at posting:
91.0¢ Sentiment: None Disclosure: Not Held
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