The performance has been weak no doubt but comments like 'big hedging' were not just hyperbole but plain wrong. To then state as a percentage of the Atlantic production seems odd considering you originally appeared to be referring to the company as a whole (and for a fact it is one of the least hedged producers on the ASX).
It's one thing to pick apart the data but then you're spinning it in a certain way.
The main point for me is there long term value at current prices?. Gwalia is showing tentative signs of improvement with higher development and it sounds like at least some of the production shortfall this year will be recovered next year. We know it can really print cashflow when things go right (granted not been the case for while now).
For $1.2B market cap and with long lived assets (albeit with major capital required at Simberi/Atlantic) I think there is long term value here.
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