Whilst not a supporter generally of hedging I don't believe Mr McGarry said that hedging will lock in profits I believe he was saying it would underwrite and give certainty of the expected revenue.
I get the feeling that the cost pressures maybe had stabilised or where well know and the sale price was the bit they BOD may have wanted to "lock in"
So far the hedge appears to be a good decision but time will tell.
Ann: Beacon Acquires Interest in the Lady Ida Gold Project, page-146
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