MGX 0.88% 56.5¢ mount gibson iron limited

hedging

  1. 87 Posts.
    I rang the company and asked a few questions because my brain has been ticking over at 100 mph.

    I asked about hedging and was told they are not hedged but are currently in talks with the banks and hedging should be in place within 2 months.

    I said wouldnt that be a bit late to be hedging if the dollar continues to rise and was told they actually receive a discount to what ever the dollar maybe at the time of hedging when put in place and that even at 70 cents we will be very profitable but of course would like the dollar lower so we all would make more money...hmmmm

    The dredging is expected to be finished in december at the lastest and will start mining next month,so all in all it should be on the up from here.

    Lets hope so.
 
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