I wet myself laughing about the way AR.to decided to cherrypick a U$1,200/oz gold price for its marketing razzle for the Magino PFS out this morning. Not for the number but for the reason behind it, because it’s comparative to the Canadian dollar forex right now, they say. You need to consider the project is in CANADA, so let’s price gold in CANADIAN dollars and that way we can get more MONEY in the bank because…because….because dollars…and it’s the same word as the one they use in the USA, isn’t it?
Oh but what they DON’T do is translate ALL the PFS items into Canadian dollars, oh no those pesky things like capex, opex, closure costs all stay in neat and tidy USD. But when it comes to the thing they want to sell, there’s no point at all in choosing a price level like U$1,100/oz, they get to choose U$1,200 “because of the Loonie”.
PS: AR.to reports in USD.