the puts announced today ARE NOT the project financing hedging
it is separate, IGR are yet to finalise the project financing hedging which will commit IGR to delivering at a specified price
today's hedge simply guarantees a minimum amount of revenue that will be received, simmilar to what TRY did when it extended the Sandstone operations to ensure it could cover costs
if the price of stays about where it is this exercise will simply have cost IGR $3m - for someone so bullish about the future price of gold siameseparrot why are you looking on this so favourable? $3m could have paid for some extra drilling or capex
put options, page-12
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