Why won't the miners fight back?, page-18

The banks do have a funny way of positioning themselves so their downside risk is covered (by various means), and there is comfortable upside. If one has a read of the financing contracts for the miners, it is a sobering affair (if you are a miner) and does look a little "one way".

Apart from the focused attack on the Super Tax, the miners are generally a fairly inarticulate bunch, often competing against themselves, prone to shooting themselves in the foot from time to time. Goldminers in particular, with their focus on reporting on cash costs only, before being dragged screaming into the spotlight of all in costs per ounce.