RE:RE:RE:RE:RE:ResultsMark to market unrealized loss on the entire 2.5 years of gold hedges because the price of gold rocketed in the quarter is hardly a concern to knowledgable investors.
They won't repeat unless gold goes up another $500 next quarter, and in even then will decrease as the number of months outstanding decreases.
"Losses on commodity derivatives for the second quarter of 2020 were $12.4 million"
29,000 ozs come off at end of 2020.
The ongoing loss is already baked in with the $12.4M. If the price of gold stays steady, no losses on derivatives next quarter. I hope there are BIG losses on these contracts next quarter, with gold around $2,400...but dare to dream.
Either way, with no production counted in from Alio, and Covid constrained production, they earned a 20 cent a share annualized amount at 1,713 avg gold price.
If the market sells off its a gift.