Post by
segltech on Oct 31, 2014 11:00am
Hedged
Gold keeps going down. It is a good thing that we are hedged at $1200 for 2 years production. We also have sufficient funds to commence production in 1st quarter of 2015 at a low production cost. We also hace a JV with Barrick for Spring Valley. Our current share price is obviously based on the overall metals market. Other mines are being forced to close because of the dropping gold price which will also create a gold shortage over time.
Comment by
retiredcf on Oct 31, 2014 11:04am
There are also a number of gold companies that are being hit today because of ongoing unrest in Burkino Faso. Agree that there will be an eventual shortage, particularly if the gold price drops below $1100.00. This is my only remaining gold stock as its fundamentals look good. GLTA