GREY:GRFJF - Post by User
Post by
mrkarpovon Sep 21, 2008 4:55pm
1335 Views
Post# 15473474
wgi :)
wgi :)yes, this is a great growth story....the downside risk is almost zilch considering that
the hedging contract for $801 per ounce covers about 90% of annual operating
costs according to information released by management...
that leaves 80,000-100,000 ounces per year being sold at prevailing
market prices (of which management can use about 90%) to improve
shareholder value by debt reduction, dividend payout or accretive acquistions....
the current share price (?an anomaly due to current market conditions) is a dream
for those whose portfolios could use more gold exposure (traditionally about 5-10%
of ones total investment portfolio)...
keeping a long-term focus,
sincerely...