Difficult to understand why share price continues to struggle. I...

Difficult to understand why share price continues to struggle. I am just wondering whether negative impact of hedge book continues to weigh heavilly on this stock. Gold hedge book showed unrealised losses totalled over US$100M as at 30/6/10 and this would have increased further with rapidly increasing gold price.

While most gold mining companies have eliminated their hedge books over recent years MDL has sat on it's hands and still have 246,500 oz's hedged at $846. In doing this they have destroyed a great deal of value for shareholders. Action on hedge book should have been taken long ago!