suprised given shg has forward sales of gold at near $ 1400 per oz that the sp keeps falling, they are obviously not being given any credit for their decision to bank those prices, at the moment that looks a good decision given the price of gold. cant understand why we are at this price.
Mike, if you read the rns, you will see that 6,000oz were sold in April and May. By my calculations, there must have been 5,500oz sold at $1,429. Taking the remaining 19,500 at $1,429, plus 9,000 at $1,367 arrives at the new average $/oz in the rns, I think they made a mistake when they stated they had 30,000 left to sell. I think they should be saying 28,500.
Doesn't matter too much. The half year results will show a maiden profit, based on my figures.
The ramp up in production at the New Luika Gold Mine is progressing satisfactorily with the upgraded crushing circuit commissioned in late June and the Company expects a substantial increase in throughput from July. The Company will be providing an update on its first half operating performance towards the end of July 2013.
more news to follow shg are giving a solid position an looking to a bigger picture ,ceo is giving background sales an working on ramp up production july could be very interesting with the new crusher unit in full flow gl all atvb
Think the forward selling @1429$ is already underway,meaning what has been already sold would need to be deducted from your cost equation.What I like though is the hedging extension from Dec to March 14 at a level nearly 8% above this mornings gold price.
i am a bit confused by that, i thought that they had already secured a forward sales contract for 30,000 oz at $ 1430 per oz, if this is an additional 9000 oz at $ 1367 per oz that would give a forward sales total of 39,000 oz at an average of $ 1414 per oz.
Think its in a downward trend KAZ now imho.....GOLD shares not having a good day or week ahead....Just WSG in myself..out of your shares....Great share for longterm investment going forward..happy to be involved..
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