Ann: March 2014 Quarterly Activities Report , page-30

"so..for more than two years the banks will suffocate this company.

Well done, bravo. 70% is pegged at $1500."

Probably the most stupid post I have every read....offence given I hope.

Do you even understand what a hedge does and why it exist....

The Company has also agreed with its senior lenders, to undertake further hedging of 60,000 ounces to provide price risk  cover for the extended principal  amortisation schedule. 

I will give you a clue "risk cover" for extending a 29.5M debt
The extension of the hedge now takes it to 176.M. Hello, hello......did you hear that 176M security for a 29M debt which they paid 2M off this last quarter.

This has to be a no brainer win for shareholders....well shareholders who have realistic view of the the POG in the next two years. The reason the hedge is at 150M over the required debt is exactly that.... risk cover... because those offering the terms don't believe 1500 POG will be reached. It allows great flexibility. If the POG does go over 1500 in one years time, they will simple pay of the debt DOH!!!! Didnt think of that did you.

All that has happened here is good news in that they have positioned themselves against the prospect of the POG going south in a big way. If it goes north they simple pay the debt of early......just like last Q 2M down making it 35% now paid off.

What do you want the schedule to stay at Sept 2015?