dehedging

For the nervous Nellies as we ponder where the next FML bottom is...

"IT'S obvious that the world's big miners believe the gold price is going only one way - and that's up.
Yes, we know gold fell another $US10/oz overnight in New York to close at $US1103, but - as with yesterday's online gold comment - the long-term, big picture is what we are concerned about."

Full story at:

http://www.theaustralian.com.au/business/mining-energy/d-hedging-the-beat-goes-on/story-e6frg9ex-1225833855898

Also, we are getting close to the 1H report and, if I remember correctly, the maiden profit last year gave the SP a boost.

Expecting $3M net for the half as per CB's statement a few weeks ago.

Cheers,

C12