Ah thanks greenhaven, had not seen that commitment. However given that looks like the company when to deliver those 'unallocated ounces' that is more like an underwriting for some cash. I have not had time to dig into all of the finanical structure and production profile but 460 ounces of gold looks like a very small percentage of total Au eq production over the next two years if they get the target Ag oz out the door. So lets adjust the assertion to 'largely unhedged'. Timing is still good.
GOLD/SILVER PRODUCER --HUGE upside Vs low CAP, page-64
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