Cheers for that Rose.
That is a puzzle.
I cannot imagine why MZ would mislead about the backwardation issue... I have tried hard to find out whether there is substance to this, but so far, very little can be found. Most focus on the USD gold price, which is obviously not in backwardation. hmm.
Either way, RMS, please, no more hedging, just buy put options!
Ann: June 2020 Quarterly Activities Report and Guidance, page-42
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