RE: RE: Back of the envelope calculationThe hedging cost alone will likely be a "couple of million". Gold price was $996 on 9/30/09 vs. $1,104 on 12/31/09.
The other unknown is how many ounces were actually sold vs. produced. We know that 36,465 were produced but I am assuming 35,000 ounces were sold, it could be less assuming how many ounces are still on the leach pad. Anyone know what the leach cycle days are for Masbate...?
Yes, I also view the 44% institutional ownership as positive, like seeing Sprott with such a large interest.