RE: Very Undervalued Gold StockThe hard part is the accounting adjustments for the hedge removal gymnastics.
We know it's going to be ugly short term but obviously long term holders are positive on long term gold prices so we applaud the move. BUT new buyers are probably anxious to see how bad the damage is and what it will do to ongoing eps after all the dust has settled.
We need a full clean qtr of post PP, post hedge removal expenses and current FD share count before many investors will jump in. It's hard but many will wait for the actual numbers to judge whether it's undervalued to them or not.
So we knew it was undervalued before but the hedges turned many off. So mgmt took the bull by the horns and did what it took to get rid of the hedges. Now we have to wait until probably Q3 results to find out if it was worth it.