I would rather they don't do hedging. Too many companies suffer after the hedging. It is easy to think you are picking the right price to find out weeks later that you have misjudged.
Look at Regis, Calidus and Alkane and they are only companies i follow that are/were way down on hedging.
It sounds like you picked the recent top but it isn't always possible to do that.
I had one other consideration with your post.
I always thought they were expanding because they knew the trouble they were having getting permits and leases and had to have a backup.
It appears they got one or 2 wrong and unfortunately they were forced to sell Bowdens.
It would be interesting to get other people's opinions but that is the way i was looking at it.
I would rather they don't do hedging. Too many companies suffer...
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