Ann: Blackham Upgrades Hedge Book, page-4

The capacity of companies and posters on this forum to turn shite into strawberry jam is a skill to behold!

1.  Today's announcement re hedge book is great news for sure. And as the price of gold sags, Dixon is looking more and more like the champion having locked in somewhere to current prevailing price. Regardless, I still think he's a goose and the pitiful roll out of flowery announcements is worthy of pewk!

2. ".. a little more upside as you don't enter hedges for 100% of production as it can cost a lot if you don't deliver..." The inference is that they are targetting more than 19,000 oz/qtr.  That is sort contrary (and so more hope than reality) to the announcements declaration that "... 38,123oz ... represents approximately 6 months of gold production..."

3. I keep seeing commentary suggesting that Lind are building a stake in BLK.  I doubt it, very very very much.  Lind lends money; Lind does not buy holding stakes in companies.  They will not be on the register long after the facility is repaid, if ever it's repaid.  In fact I would be surprised if they are there today having traded out via what ever Acuity had previously sold.  Heavens know how they are going to offload the next gazillion even if  Acuity is already on the job....

4. I see a few posts talking about accumulation.  This has been touted since BLK were trading in early 4c and while it went to the giddy heights near 6 and all the way down to 2.7.  Someone needs to think this one through.  If they have been accumulating since then, they will now be sitting on a notional loss of maybe about 1/3 (aka 33%).  If they have accumulated a meaningful parcel the scale of which you infer, they would be hurting... they would be better described as punters and hardly sophisticated.  There is no significant shareholder controlling more than 5% ... 

Be careful ... lot's of pain in the making here me thinks!  Tis a miracle that BLK needs and aside from Dixon's beard, he has absolutely nothing in common with Moses.

All IMO of course.

Have a great day.