If I have one criticism of management it is that they sold gold forward based on a too low price for too much of total production. There is low leverage to a higher gold price for a couple of years, but then the bottom part of a downside is insured against. If they keep doing this with the output from Big Bell, I am totally out for good, because my gold miner stocks are insurance for a big economic crash and a boom in gold. If this happens, WRX will be a wallflower sitting in the seats but will not get a dance. So it isn't insurance. A zombie.
Ann: 2019 AGM Presentation, page-31
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