hedged of un hedged, page-10

Just to clarify what I was referring to regarding hedging below is a paragraph from the last annual report -



Gold prices have been strengthening, although the US dollar has been relatively weak. We have
hedged approximately 40% of our gold production in the coming years at around $875 per ounce. This
provides a level of protection of our relatively high operating costs, but still leaves approximately 60%
of our production exposed to the upside of further gold price increases, should gold continue its recent
rise.