ann: fml to raise 227.5 mill via placement, page-180

Some ego driven inderviduals seem to think that whatever they write becomes reality and that nothing else matters.

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Thx Robertdewunth. That bullet whistled past my ears, and sunk into you know who.

Hoist by your own petard I say, praising the Mods, then next sentence "ego driven", which is clearly personalising your post.

Oh, well.

So far, not a single person has been able to come up with an argument that a hedging strategy could be instituted within the law and accounting etc (thx KW) that could NOT be used to the benefit of the 51%.

A lot of denial, and hope, and whistling past the graveyard, but could someone have a go at explaining why a hedging strategy could not be used against the 49ers.

Do you know why I am so confident about this?

The damn US Federal Reserve and central banks around the planet have been doing it for more than 50 years, and until the last 6 years every gold miner was seriously hedged. I realise in their case it was a strategy to affect market price, but it can be used just as effectively to spirit any value above the hedged price out of FML.

Please, someone show me where I am wrong. And 51% can do as they please because it is a legitimate commercial practice to hedge. The motive may be to the detriment of 49ers, but it is entirely legitimate.

Someone mount a counter argument please.