at the very least performance bonuses need to be completely axed. these are not external events beyond companies control. these are actively bad decisions. hedging as much to begin with, raising equity to pay out debt, then raising again and using funds to close off part of the hedge book.
they could have near closed the whole book back in July, but nar we will close out at record high gold prices.
i accept the hedges for what they were, but this trading in and out of them is a harebrained idea for management. focus on execution and stop punting a gold price direction every 6 months.
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