Where were you...? Thought everybody noticed the whacking on DROOY today... Better click on those model hyperlinks... GFI and HMY both have mine plans to be profitable at under R75,000/kg. DROOY's has more marginal mines that are more at risk, and it appears DROOY under-reserved for mine closure costs compared to GFI/HMY. GFI in particular is able to revise its mine plan to high-grade certain deposits (Saks vs. Walmart strategy they call it...).
DROOY will be back, but it desperately needs R85,000/kg to reach some semblance of profitability (current POG = R78,300/kg). Those large, one-time charges appeared to be totally unexpected, and certainly under-reserved..., hence the DROOY spanking today...
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