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Claude Resources, Inc. Message Board

  • longtimefollower longtimefollower Nov 17, 2013 1:30 PM Flag

    Bad management. Bad planning.

    Why would anyone ASSUME the price of gold was going to stay up at $1700 or higher, without any hedging or anything, and then be forced into a relative "fire sale" of an asset, to maintain liquidity, when the price of gold did what can only be considered a reasonable correction? Is that not imprudent, or even reckless? Is that not stupid and giddy? Where does such management get off talking in an earnings conference call about how they "wished they would have hedged"? Is that not an infantile embarrassment, to be living in the past, in such a fashion?

    My confidence level in this team is low. It is not the job of executives of gold mining companies to have a pie-in-the-sky attitude towards the gold price...and ours did. It couldn't go up forever....and they assumed it would. Granted, that was the attitude of many other gold mining CEO's, but still. Such attitudes are an embarrassment, and reflect, again, a profligate and imprudent strategic vision.

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