I will give you an example of when a gold miner should hedge - late 1980's. Any hedge then especially one that lasted 15 years would have been so prudent.
No one knows the future and while gold prices are at significantly higher levels than cost of production, it locks in some profit. The problem with gold is that historically it has come off it highs quite quickly. Now is not the time to gamble with all the future ALD profit. Lock some in at the current prices and put a real floor in the share price.
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