management making gross errors, page-19

OK Guys, BAGM and pcash, a bad choice of words. What I should have done is post the letter in draft form here first, got your feed back and then sent it ! Wish I had done that now, but didn‘t think to do that at the time.
On the other hand if I had sent the same letter unedited to the Chairman of ABX or LHR or Newcrest, would I have been wrong ? What did Newmont have to pay to get rid of its hedges ? Over $1B ? They were all established producers as well. I am sure they had all had loads of mining experience. SGX now sells its gold around $530 I think. How long do SGX shareholders have to wait ? If the hedging is over and done with under a year, then OK it is normal business, but with gold it invariably goes out much longer. Hedging is a killer, no matter whether you have a collective experience of 200 years or not.
The other thing is that when explorers become producers, the usual pattern is for the share price to be in the doldrums for a long time. It’s just one of those things ! But the Barminco announcement gives me more confidence now on that score.
We do have a long term bull market in gold the metal IMO. The price has been suppressed so long the suppressers, namely Central Banks and their mates the bullion banks have now run out of ammo. The public are not in yet. Who do you know who actually owns bullion ? I’m the only one I know ! All very bullish. Gold and platinum used to be about the same price, so gold has a lot of catching up to do. If I have an agenda it is that I want to be in the best stocks in the PM sector, to take advantage of what I believe is a major bull market in PMs, and will prune and fine tune my portfolio ruthlessly to do that. There will be big moves for the right companies.
Kal, I will sell when I am ready, and am clear what the hedge position is or is likely to be. Other than writing in to management, how do you find out ? I hope my letter was not so offensive it does not get any reply ! I have been very bullish on this stock for some time. The down trend didn't shake me out. The only thing that will do that is hedging……whether that means inexperience or gross error, makes no difference to me.