Ann: Vault to exit H1 FY26 materially unhedged, page-2

This exercise was pointless.

Closing out 47,000 ounces of hedges at $2,797 at $172.7 million, costs around $3,634 per ounce which works out at a gold price of around $6,431.

That is just above the current gold price.

So yes if the gold price goes higher good but what if it goes lower? Why take on downside risk now?

Given we have gone this far we should have just ridden the hedges out. Most ounces were unhedged going forward.

Yet again another corporate decision that seems to favour the suits rather than the shareholders.

Can't get rid of the board quick enough.

GLTA/IMHO