BDR/Gold price, page-25

"I feel sorry for Peter because whatever way he goes on hedging he will be a loser to at least half of holders!"

(Unless he buys some gold put options for a small premium at lets say US $1100 which would reduce risk for everyone.)

It is possible some of the drop in BDR in the last day is an arbitrage play by short/swing traders , BDR had run up fast compared to some other goldies that are still even more undervalued than BDR which I am guessing BDR investors are switching into.
However it was an external perfect storm event that precipitated the last big drop in share price for BDR due to funds dumping more to do with wanting to get out of the $A via their investment in BDR plus a lack of belief that the Captain would deliver results in the last quarter.
The Captain delivered and the share registrar has probably stabilized , So I still see a fair bit of gas in the tank for BDR so will hold a while longer.