AIS original DEBT problem with Tritton stem back from when it was Straits Resources and the hedges for Cu were so low that they were repurchase which caused all the debt for the company. It was a dumb deal because the Cu price the crashed back. So the hedges were bought back and the copper price was low again so the upside was lost. Thankfully that CEO departed with his tail between his legs.
Many newbees they don't have a clue of the history of the company.
When Andre took over he'd inherited a mess, the Mt Munro Gold mine in Indonesia was losing money and locals were stealing all the gold. Evenetually it was given away for $0.
Ann: AERIS UNDERTAKES ADDITIONAL A$ GOLD HEDGING FOR CRACOW, page-58
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