I am perplexed as to why NXG didn’t close out the entire hedge when gold was below $600. Stowe had originally said they hoped to have it eliminated by the middle of this year. It would have cost them to about $18 mil to close out the final 60,000 oz. With $127 mil cash and another $100 mil coming from the warrants, $18 mil is a drop in the bucket. The only conclusion I can come to is that they are saving as much cash as possible for an acquisition or merger they feel may be close at hand……..a transaction that would involve both shares and a cash sweetener. That is just idle, ill-informed speculation on my part……Spec
Market Data 
Markets 
AI
