Ann: Cadia Hill open pit approved for tailings disposal, page-8

I grabbed some September $24 call options.

There is a lot of catching up to do. They averaged $1,295 p/ounce in their previous half year. Gold is on average ~$35 ounce higher. Even with Cadia going offline for 6 weeks I don't see their profitability slipping.


Come June if they've got Lihir running constant, Cadia fully operational & if they somehow could offload Tefler the SP will be well above $20.60.... A break above $1,350 in gold would be a bonus.

Great growth options and long reserve life with the cash-flow to fund it..

A lot to like.

Fingers crossed this was the last issue with Cadia.