Seriously, anyone who thinks hedging is a problem at the moment really hasn't thought this through. We are about to mine a very small amount of what we have. We have the capacity to repay the loan very rapidly and still expand. Why should we be afraid of loan funds? In the context of the bigger IGR picture who cares about some short term hedging? It will only happen once and then we become self funding. Anyway, I am sure the IGR management team will get the best loan deal they can.
My view is that more loan funding is better for the longer term and more SP sales is better for the shorter term. I guess I am in the minority here. So be it.
BTW can someone explain why 80M? I thought it was 65M.
production funding, page-18
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