Ann: Administrators Appointed, page-5

My reading of all this- it all comes down to grade once production starts. Hedging is the cost of finance for a marginal mine- the cost of the risk.

But yes, this sucks for holders. I think the risk that was taken can be justified- but do not over invest- invest what you can afford to risk- that is the lesson.

Good luck all.

IMHO DYOR