chippa - You've hit the nail on the head and outlined what a lot...

chippa - You've hit the nail on the head and outlined what a lot of people seem to have conveniently ignored. Without the certainty of receipts from the sale of hedged ounzes, the banks wouldn't have lent a cent to RED to enable construction of the KOTH facility.

As far as outlaying money to buy back those hedges, if I had a seat at the Board Room table, I'd be urging that any available funds be spent instead to tickle up production capacity and thereby increase the number of unhedged ounzes the company could sell both now and every year into the future.