Forward sales in a bull market only loses money Did they loose 16.2 million on forward sales in the 3rd Q and 42.5 million year to date why would they enter into forward sales it's a profit killer in a bull market what is the current size and term of their forward sales this could cap profits going forward
Net income includes a net derivative loss of $16.2 million (YTD - $42.5 million loss) related to gold forward contracts and foreign exchange collars entered into to mitigate downside price risk during the construction of the Media Luna