RE:I'm out Same here -- this precisely sums up my feelings about the company as well, and I'm eliminating my position. Best wishes to everyone who holds, but for myself, I want my money in a live stock during this rare run-up (gold just went over 2400/oz); these are the times to invest in solid companies that other people also want to invest in, not turnaround plays.
For me, the hedge was also the last straw -- I'd been worried about the lack of reserve replacement, the declining production, and the direction that the new team was taking things, and finding out about that kind of crystalized my decision. I don't know if the company is in worse shape than I realize and needs the hedge, or if they're just gambling in the financial markets for kicks and giggles, but neither is what I want to invest in.
Anyway, good luck to all.