We know he is right,and it is a great informative post as to where they may sit.
Really if they come back to the holders and we all tip in say 10% more than we are sitting on now,how much better off will the company be in the long term compared to if they are required to hedge to secure funding.
Yes alot of the others hedged at much lower prices but the costs were also alot lower back then compared to what they will be.
They will miss out on the rising Au price but they won't be missing out on the high inflationary costs that are going to continue to increase to enable them to produce.
Mate in two years gold will be U.S.$2000,diesel $2/litre,and a loaf of bread $7.
IMO he is more right than wrong.
FML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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