the great news..., page-11

I am unsure how they structured the 195,000 oz hedge at $1600.

It would be nice to know what the numbers were, eg how much we can sell at that price and at what dates. Possibly we could see our next 195,000 oz at $1600 (about one years worth of production) which could be a nice earner whilst the spot recovers. I am thinking that it would be a bit more complex and may involve us providing various amounts at various dates.

It was set up as a condition of getting our funds to build the plant at the insistence of the lenders. (They just wanted to make sure they would get their money back which is fair) and looks like it could be a real saviour of our bottom line whilst the POG falls through the floor.

Possibly we won't have to sell any gold at the spot price for 12 months (if the hedge has been structured in our favour).

Does anyone know the specific details of the hedge other than 195,000 oz at $1600 within 3 years ?

It would be nice to know and could be company making information.