Average price of $650Glencairn's average price for gold in the first quarter was $550. If that average moves up to $650 for the remainder of the year, it will mean a boost of $8 million for the bottom line. That's considerable improvement.
Every $10 move in the price of gold above $550 means almost $1 million for Glencairn. This is the benefit of being an unhedged producer.
Glencairn is one of the most undervalued junior gold producers. I think 72 cents is a good entry point for anyone looking for a solid investment with little downside risk.