Caledonia Mining Corporation (CMCL)

[rmarc]

This is the second time CMCL bozo management hedged some of their gold production just before a gold break out rally putting the hedges immediately under water. This hedge starts in February & runs until June for 22,500 ounces. CEO Steve Curtis panicked & bought puts at a strike price of $1,250/oz. This hedge represents about 41% of CMCL's 2019 production guidance of about 55,000/ozs. The gold price today is $1320, already 5.6% higher than the hedge price. This asinine, unnecessary hedge & the very high political risk rearing it's ugly head again in Zimbabwe is the reason CMCL is not participating in the current gold rally. Bozo CEO Steve Curtis once again displays his lack of managerial skills & incredible bad timing.