Finally some common sense, but they should have done it a few weeks ago when the AUD POG reached 1600 in order to protect the company.
I spoke about this to them a couple of months ago but they were so confident that things were fine and the AUD would be a hedge against a falling USD POG.
This facility is better than nothing, but I think they will still struggle financially going forward because they are burning cash too fast on the pacific island operations and have a lot of payables in addition to monthly debt payments (interest and principal) and a lack of will to undertake cost savings.
loki
Ann: Short term gold price protection , page-3
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