I’d really encourage anyone researching a stock to read ASX announcements from the company going back 2 years as a minimum, preferably 10 years. So much detail is left out of the glossy presentations. The following announcement titled “closure of hedge book”, which is easily found on this site, has the information you are seeking.
https://hotcopper.com.au/threads/ann-closure-of-hedge-book.77521
Also, not sure about the “growing production profile” you mention. The Moolart Well Plant has just been closed and the Mcphillamys development decision has just been iced for another 2 years. In addition the company has forecast reduced production in the year ahead. This information is detailed in the recently released quarterly report.
Interestingly, the company has a lower price now than when it announced the hedge closure, despite a jump in spot price of roughly $700 per ounce. The long held narrative that it was the hedge book holding the company back has not held true.
I’d really encourage anyone researching a stock to read ASX...
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