Change of managment needed now, page-2

International Financial Reporting Standards (IFRS) have some clear objectives (OB2 to be clear):

I would say based on the objective of the IFRS, management has failed on a number of accounts:
- Hedging the Gold Price for sale
- Efficiently extracting the dirt from the ground

1. To assess an entity’s prospects for future net cash inflows, existing and potential investors, lenders and other creditors need information about the resources of the entity, claims against the entity, and how efficiently and effectively the entity’s management and governing board2 have discharged their responsibilities to use the entity’s resources. Examples of such responsibilities include protecting the entity’s resources from unfavourable effects of economic factors such as price and technological changes and ensuring that the entity complies with applicable laws, regulations and contractual provisions. Information about management’s discharge of its responsibilities is also useful for decisions by existing investors, lenders and other creditors who have the right to vote on or otherwise influence management’s actions.