Ann: Change in substantial holding, page-25

At what point does a fledgling miner go and hedge half their production over the next 12 months?
A position that would realize $1,000 oz is nothing to be sneezed at.

If you said 12 months ago that they could hedge at $2650 oz surely you would take it.
The fact it may rise much higher shouldn't stop some measures that protect the down side risk but virtually guarantee decent profits over the next 12 months.

How often can a company make a profit that exceeds their market cap?