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updownflat, , its not gambling, its prudent management when you don't know where the Iron Ore spot price is going. As I have said before and I repeat, YOU, would be the FIRST, to winge if Iron Ore had crashed. You would have said, "Why didn't they hedge when the price was high"... They have ensured they are making good money regardless, money people wouldn't have dreamed of 12 months ago, including our friend Retired Banker who called it a " basket case " and wanted it sold for nothing.
You have your opinion, which is nearly always negative slanted against the company. I have mine. The mere fact we are making less money than we potentially could have made is fine, as they have debts that they are contractually duty bound to make an if this does that thats fine by me. The mere fact IRC is making a profit is brilliant, and has been a long time coming. Long may it continue.
Rusty,
irrespective of the fact that they sell it at a discount, they are still liable to pay the difference on the option that they took out.
It’s called gambling.
Updownflat, what the hells this Chinese ??? You don't know what price they are selling the ore at " it is commercially sensitive information" Didn't you know ? And what do the asterisks mean ?
(($267-$175)*(700,000*4))*40%
Updownflat, I don't know where you get your figures from but, based on what you are saying thats $250m per year. You are having a laugh, they would be lending us money.
If you believe your figures are correct elaborate. !!! I await with baited breath.
Yup you're right. It's only a potential $100m p.a.
Forgive and forget, that's what I say.
Hi Lawrence13, you are probably aiming it at the very same person I was aiming it at, even though I mentioned you as well. If we ever had the benefit of hindsight, wouldn't it be wonderful, OR, not. As we might just find out something we didn't want to know. reality is with some on here, it is forever the blame game. If only we were all Perfect.
It wasn't aimed at you Rusty
Lawrence13, I am NOT blaming Peter for Hedging, Now, Yes we might have lost out, but he didnt have the benefit of hindsight, and has been burned in the past. We lost money on hedges towards the end of building the POX HUB, But it ensured we got the POX HUB built.
The past is the past, and we cant change it so we should move on.
Lawrence13, I am NOT blaming Peter for Hedging, Now, Yes we might have lost out, but he didnt have the benefit of hindsight, and has been burned in the past. We lost money on hedges towards the end of building the POX HUB, But it ensured we got the POX HUB built.
The past is the past, and we cant change it so we should move on.
All of these wise critics. Refractory gold processing was the future but it didn't come cheap and to risk/gamble on being ahead of the pack in a world of exhausted gold supply and a rising gold price was a bold move with fantastic results if the gold price had been sustained. Hambro like most misjudged the short term gold price we all knew the risks but where to busy getting excited and counting our gains when gold plummeted. I'm a big boy and will be responsible for my own choices not blaming everyone else
so rbrand, the same Mr Hambro, who nearly brought the company to its knees by NOT, hedging when the gold price was high, because he was born with a silver spoon, would always hedge, Well he didn't. And I wish on that occasion he had, as we wouldn't be in the position today.
Ignore racing steward Rusty. You stay on your high horse. Rolf wants to know if there is room for two.
Hedging is just what Hambro would do. Not because he is a brilliant decisive businessman but because he was born with the silver spoon , all a game. only my opinion but I( have been watching for around 10 years.
sp weak last few days , probably pre wedding nerves. I really hope with the results we get a good indication of the previous probity of the P`s ; then it might shut up SOME of their biggest fans. Yes, Law by next August well up.I have to put weak buy since I just did again.