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5.41% 3.5¢ evion group nl

evg's forward gold sales

  1. Lastword
    428 Posts.
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    17/09/11
    06:47
    Post #: 8972898
    I've been looking at this company as possible small cap Au play. I came across this disturbing line from the 20/4/11 activities report:

    "EnviroGold has forward sold 126,000 oz of future gold production (30% of total production) at US$1,358 per oz, less fees."

    This hedge is $USD 56,863,800 out of the money at today's spot price!

    Can anyone point me to the details of these forward sales? Are they at least spread over several years?

    TIA.
    EVG Price at posting: 17.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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