I think if we (i.e the board) believe the gold price will go up from here the hedge position should be closed out now to realise profits as the gold price goes up in the future. Either way it's better to close out the hedge now unless we speculate the gold price will drop below the hedge price, which is unlikely.
closing out the hedge will add debt, but we get increased earnings.
Ann: Chairman's Address to Shareholders, page-63
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