hedged of un hedged, page-12

"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."

i guess thats not silly locking in 40% of its gold at 875.At least IF there is any downturn NGF will still be ok.

But i do think gold over the next 12-18 months will reach very dizzy heights of 16-1700 plus.
60% @ $1600 is a fkn excellent return i would say.lol