There is no upside hedging only they have to purchase a % of...

There is no upside hedging only they have to purchase a % of production through put options. ( which does not make sense )

They will be in production in December as long as they get the all OK from department of mines that is due any day now. ( in their latest report they said end of Sept ).
Once the department of mines ticks then they have secured the Barclay facilty which allows the next stage of progress.

Looking at a gold price heading towards $2000 next year and them in full production then anything is possible.

The key is this approval , however technically eveything is looking great !!!