I don't care how much production is hedged, they are just to well hedged for the current increased gold price to make much diffetence to the share price.
Compared to for example pru, slr had been tracking ok, given the gold price. Others that were hammered harder, are catching up with the increase in gold. Slr just had less or no catching up to do.
Slr will start moving when gold hits 1,700 aud.
When $1,700 aud is hit, whether the lid has been on, or there was no lid at all, it will start moving.
For about a couple of years now it has been running as a pretty tight ship, but wish renumeration would come into line, have always seemed high to me.
I have been in ever since people were calling this a dog at under 20 cents. I think we could get up to maximum 90 cents (probably an overshoot, that will pull back alittle) if gold runs and holds at above about $1,750, nearing $1,800.
Patience.
SLR Price at posting:
45.0¢ Sentiment: None Disclosure: Held