Costs and capex are controlled by budgets and contracts to the best of the companies ability, future prices of their products they have no control over other than hedging. Can I point out that the poster previously had no issues with hedging all the other products but was upset with the choice to hedge gold, why? you either have a problem with hedging or you don't, you can't pick and choose by what ends up making or loosing money. A logical strategy would be to hedge based on spot price above a moving average which would explain why their gold hedges are larger than other products. Also the hedges may also be linked to who is buying the product as they may get a better deal as options still cost money.
AMI Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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