thought i might also add:
sure, some gold producers have failed due to hedging.. but the underlying reason they failed was because of delivery issues or cost blow outs..
in a funny way, a quick and simple death by a hedge book is imo better than a long drawn out process and repeated capital raisings / restructures continuously trying to work a marginal project.. those same "company killer" projects are still doing the rounds and the end result is always the same, hedge book or not
a quality company and project are not going to fail because of hedging, and shareholders are usually thankful for the lower dilution and higher future share price
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