GREY:GRFJF - Post by User
Comment by
SkyeCairnson Mar 21, 2008 9:43pm
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Post# 14758996
RE: WGI HEDGE
RE: WGI HEDGEPosted by: nwtfe (ID#: 533005)
Original Message:
"Target Production for 2008 is 155 000 to 165 000 oz Au.
60 000 oz of that is hedged at $801.
Personally, I prefer a company entering into a small hedge in order to get a mine financed (especially their first mine). The alternative is that they would have dilluted shareholder value with large equity financing. "
Hedge doesn't start until July so we get 2 quarters at full market value. I totally agree with original poster. Not doing the hedge would have required some additional equity financing which would have dilluted our shares.
GLTA 06/05/2008