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Assume that spot gold price is trading at us$1,200 perounce and golden star resources wants to lock-in ''good'' price for 3,000 ounces to be delivered

Assume that spot gold price is trading at us$1,200 perounce and golden star resources wants to lock-in ''good'' price for 3,000 ounces to be delivered in exactly a year 19th may 2023. the following assumptions applies; Spot price=US$1,200 per ounce. US 12-month cash interest rate = 5% 12-month gold lease rate (or gold borrowing fee) = 2.5% Bankers profit margin = 0.5% Calculate the total price Golden star resources will receive on 19th May 2023 under normal circumstances.

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