EAR 0.75% 33.3¢ echo resources limited

Ann: Company Secretary Resignation, page-11

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  1. 266 Posts.
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    The BFS was based on a gold price of Aus $1600
    Gold recently hit about Aus $1705
    This was the perfect opportunity to hedge the first years production at significantly higher
    than the $1600 gold price used in the BFS.

    I cant understand what is happening, IMO this is a missed opportunity to lock in the
    gold price at $100 or more than the price used in the BFS to declare there will be robust returns in stage one.

    An extra $100/oz received for the gold would mean an extra $9 million (or thereabouts) which would
    well and truly pay the interest on borrowing the full amount and ensure it is paid off in one year.

    I cannot understanding what the BOD are doing, IMO the shareholders are not benefiting from this fiasco
 
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