the great news..., page-14

I did a bit of investigating and found out some more about the gold hedge in place.

Basically the 195,000 oz is deliverable over three years in equals amounts due each quarter. So we get to sell 65,000 oz per year (or 16,250 oz per quarter) at $1600 per ounce. Whilst the spot price remains below $1600 this is making money for us.....and gives us a nice predictable cash flow too.

Can't wait to see the quarterly report which is due out soon. IMHO these guys have done a great job in getting the mine into production and there's more good news to come with the high grade Duckhead ore being processed shortly, the IO magnetic separation unit coming online any day now, and the treasures of Tropicana just waiting to be revealed.

A nice bounce in the POG would just be the icing on the cake we deserve..