sabre you still in sgw
Sucked in SGW...serves you right for forward selling so much of your gold. You tried to be a banker rather than a gold miner which you were.
Forwards selling 10 years of production...what a joke...now they cant find enough gold to make their hedging commitments.
they are lucky the AUS$ rose above 60c or they would have blown up last year from their hedging of the dollar.
I say sucked in to any gold company who uses hedging for anything than maybe 1 years production ie start up costs.
Gold miners should just mine gold...if I want to punt on hedging I'll do it myself...same thing happened to ashanti and camboir and will prolly happen to more companies.
Good riddance
SGW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
