you do good, then you undo it by putting words in my mouth. It is a consistent tactic of yours, and the words are ludicrous extensions.
There is nothing illegal with hedges. A hedge at 1700, above the cash cost, will not kill FML. It just won't leave any large licks of cash around.
It could mean justifying taking on more loans backed by hedged gold to grow FML.
Meanwhile the hedge gold sails away at 1700 to sit in a vault to be revalued later at $5000. Nothing illegal, doesn't kill FML, just poor divvies.
May I remind you that SD pays 1 RMB for every 400 RMB of market cap?
Hardly a dividend record to sing about. So, SD's game has not been about returns. Value can be made, its just a case where where someone chooses to crystalise them.
FML Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
