Their hedge book is in the money, therefore they're currently making better margins on their hedged gold than their spot sales.
also, remember that guaranteed income = lower risk. Not exactly sure why you would be upset at their current hedge.
If you were upset at say Woodside who has a hedge book below spot, then I can understand your comment, but I'm a bit confused by above.
Cream
Their hedge book is in the money, therefore they're currently...
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$2.35 |
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