I love everything about this company except that their...

I love everything about this company except that their management are financial numpties.

They have even been taking on more hedging, when their liability, if accounts had to genuinely show hedging losses (which they do not for some weird reason), to hedging counterparties is about $170m AUD. If gold moves to $4000 AUD, liability triples, and costs will possibly be up $1000 per oz too. And everybody is surprised they needed a crap raise. Their market cap is about $600m now.

It is really surprising that they think hedging is derisking operations, when it is amplifying any financial issues.

GLTA - I've got some, will get more when I think they can manage their finances, or on the next gold pullback if there is one. This is great and loaded with financial weapons of mass destruction - as Warren Buffet would say.

Any analysis that doesn't mention this problem is toilet paper IMO!