as well you know, i have expressed my oposition to the hedging all along.. i have expressed this view in writing to the company with simialr substantiation to what I posted on this forum.
however thats backward looking as opposed to looking at future quarters, they havent opened new hedges, and barring gold getting extremely overbought, hopefully it will stay that way. I'm not trying to dismiss the loss due to hedging, im just pointing out that it isnt an ongoing cost
Ann: Quarterly Activities Report, page-7
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