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08:41
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Originally posted by DoctorFouad:
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I agree, IMO the biggest mistakes of the previous CEO was the ravenswood acquisition (nothing worse than investing in a high cost mine) / dilution / debt / then getting rid of it at a loss, bad judgement and costed shareholders dilution of their shares/investment value, the hedging of gold price was also too aggressive at 1400$ and short sighted (everyone knew in 2019 that the financial markets are on a bubble and will burst anytime which was bullish for gold, so no need to hedge at low prices, a lesson or two from the austrian economy business cycle theory would have helped the previous ceo).
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Correction : ravenswood was acquired 16 years ago in 2004. So the previous ceo was only responsible recently for raising funds/diluting shareholders to develop it not for buying the high cost mine in the first place.
(20min delay)