I don't think I've ever posted much more than a sentence or two...

I don't think I've ever posted much more than a sentence or two but the hysterical reaction to this announcement prompts a comment.

1. This announcement is reflective of the culture of BCN which has got the company to the point where many of us think it is a superb investment. This is a prudent decision and I don't understand why that upsets people. It might not be the decision you would make but it is still a prudent decision.
2. Most posters are assuming they know exactly what will happen with the gold price in general terms over the next six months. The gold price is being talked about as if it it is a given not a prediction.
3. The whole point of this hedge is reduce risk to zero. In a growing company that's not such a bad thing because you can plan with certainty. BCN can go ahead and invest / drill / acquire / issue dividends knowing there are no surprises waiting around the corner from them.

Ok, I've stuck my head above parapet. Fire Away.