TSX:LSG.DB - Post by User
Post by
lornon Feb 26, 2013 4:25pm
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Post# 21045071
Re...Goldhappy.....
Re...Goldhappy..... The Canadian dollar is now at .97 c to the American dollar down from par or above with the US dollar just a few week ago. Gold is bought and sold in American dollars??
Now all wages are paid in Canadian funds and Lakeshore sells their gold for American dollars.
So if you like playing with math maybe you could figure out just how much Lakeshore gains per oz of gold for each penny the Canadian dollar drops agains the US dollar...as I understand it is a significant amount?
130000 oz could be a winfall for Lakeshore gold.