My apologies for the very late response.
I would swear that I read in an announcement where the company stated that the AISC "was adjusted for hedges".
Perhaps I got it wrong, and maybe it was the sale price, and not the AISC?
But my interpretation was the AISC (or perhaps sale price) was impacted due to the cost of producing the gold for the hedges, and I understood that impact to the bottom line would stop when the hedges are paid out, resulting in additional upside.
It is very late now, but I'll try find it tomorrow and if I've got it wrong I'll ask for my posts to be deleted and post the correct information.
Apologies for any confusion, absolutely not my intent.
Ann: Chairman's Address to Shareholders, page-40
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