Yes valid point raised about raising finance and Laos. I heard they had big problems despite how good the project economics stacked up.
The point re hedging an interesting one. It is seen as such a bogeyman nowadays. However there are plenty of examples of gold companies making big profits from hedging over the years - Kidston, etc. To remain totally unhedged whether a good thing or bad will depend on personal perspective. There is no gurantee gold will go up from here. Just look at current COT status for gold. Commercials have largest short postion for 6 years. They might not necessarily be right but it tells you there are alternative views about future price direction out there. Unhedged companies will be losers if the gold price falls from here.
However I am a gold bull and hold OXR.
Just look at cash flow from copper from recnt BFS announcement and add to cash flow from gold and you can see OXR will be trading on very low PE in two years time if it stays at current price.
acturtle.
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