Ann: Macquarie Bank Replaced as Financier of Las Lagunas Project, page-19

An unsecured hedging program for delivery over
the next 12 months of 25,000 oz Au (approximately 60% of forecast 2016 production) at
US$1075per oz Au has been put in place with Geneva-based MKS (Switzerland) SA (“MKS”). (17 Dec 2015)

but previously:

In addition, 36,000 oz of spot deferred contracts have been subsequently put in place as the gold price has risen. These deliveries can be made at any time with an existing average gold price of US$1157 per oz. (30 Sept 2015)

The aim is to have formal contracts for the supply of at least 50,000tpa of suitable concentrates from China in place by the end of 2016, for delivery late 2017.

Meetings are ongoing with mining companies in six Provinces (Guizhou, Guangxi, Yunnan, Qinghai, Gansu and Sichuan)

This seems to have been resolved in December into:

Construction of a 50,000tpa Albion/CIL plant in Guangxi Province

The aim is to have formal contracts for the supply of at least 50,000tpa of suitable concentrates from China in place by the end of 2016, for delivery late 2017.

This seems to have morphed into: (17 Dec 2015)

Phase II of the Las Lagunas project which will involve the purchase of refractory
concentrate from identified potential sources in the Dominican Republic, Cuba,
China and Canada.

The objective is to purchase approximately 150,000tpa of suitable concentrate
commencing December 2018.
(This of course means Q1/2019!)

The dangling carrot is that production will have increased from 3.6 g input to 50g for the same volume or 14x. to 550,00 oz from 40,000.

I really would like to cut through the fog of dreams here and see what is supposed to be delivered, at what price, when and where. Then it "may" be possible to decide if we will run out of cash or diluted to a poofteenth.

A simple analysis would suggest, including transport, 40,000 oz are needed to transport and refine.

These would leave 500,000 oz.

Can anyone think of a situation that provided more incentive to ignore IP and chisel away and flout to gain so much annual revenue from something already mined?

Confined to DR certainly stops blatant stealing but still exposed to shenanigans from sp manipulation. And some cultures have no problem with very, very, VERY long term game plans.

Hence my earlier request as to exactly where are we in Dec 2015.