re: Ann: Mutiny in discussions on development... Many apologists for the board.
How many think the closing of the hedge the week before gold collapsed, had something to do with the failure to obtain finance? From what I have seen over the years, finance often comes hand in hand with some hedging.
From announcement April 10 2013:
"..taking advantage of the recent weakness in gold prices...."
"....Ongoing economic instability in Europe and America - plus the growing potential for a resumption of hostilities on the Korean Peninsula and the impact these would have on global market sentiment - are expected to see the gold price rally from its current low levels...."
A hedge is to provide some protection against falling gold prices. So if the loss of finance is the result of the falling gold price. Does management have to take some responsibility?
Ann: Mutiny in discussions on development of DSO , page-33
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