Harte Gold Corp. HRTFF

Metals & Mining Gold

Harte Gold Corp is engaged in the acquisition and exploration of mineral resource properties. It is focused on gold properties located in the province of Ontario, Canada. The company's exploration projects consist of sugar zone property and Stoughton Abitibi property. The Sugar Zone Property is located approximately 80 kilometers east of the Hemlo gold camp on the north shore of Lake Superior. It includes approximately 4 mining leases and 336 unpatented mining claims. In addition, it also consists of approximately 29,435 hectares within the Sault Ste. The Stoughton Abitibi property is located approximately 110 kilometers east of Timmins and 50 kilometers northeast of Kirkland Lake.

EXPM:HRTFF - Post by User

Harte Gold Corp.

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Comment by MudCreekeron Jul 24, 2020 1:11pm

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Post# 31315152

RE:RE:RE:RE:RE:Hedge cost 50 million

The hedges are a part of Harte's reality. How they came to be is irrelevant. Railing at Roman, after he's gone is pointless. But understanding the impact of those hedges on Harte's future is important.

If I read the financials correctly they had about 4000 oz hedged at $1390 in Q2. Do the math, gold is currently $500 above that level, That's 2 million dollars to BNP. They only had 1/3 of expected production hedged, so should have benefitted 2/3 in the rise in gold price. BUT covid - they produced 0 ounces, so benefitted zero from the higher price of gold, but still have to pay BNP on the hedge. None of that is current management's fault, but it is part of the ongoing reality they have to contend with. If you intend to be a successful investor, you can't just ignore things like that.

P.S. don't you just love the description as "zero cost". lol

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