no because gold, like any commodity, is also set to rise in price over the next 6 months. When input costs are rising in a highly inflationary environment it doesn't make sense at all to lock in the product price. With the current macroeconomic environment, hedging 70% of production now for the next 6 months is far riskier than not.
Having said that, they may get lucky with a short-term pullback in the price, but I doubt they are going to make money from this hedge, same as last time.
Ann: Beacon Enters into Forward Gold Sales at $2,715 per Ounce, page-64
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