re: Ann: EVG commences construction on Las La... butcherboy this link may explain the hedging positon better than I, you could forget the first page and page 18 most relative.
http://www.barrick.com/Theme/Barrick/files/docs_presentations/DetailedLookAtHedging.pdf
Anyway IMHO the hedging position BJ has taken looks fine although I would like to see him also hedge into a bunker oil contract as well in case the power company black mails EVG over its power supply prices with the excuse of a lower US dollar,
Then BJ then would have an alternative viable power supply scenario using diesel powered generators on site with fixed fuel cost.
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