hey oz hope you are well,hedges are ~12-13k oz p.qtr so at 16k...

hey oz hope you are well,

hedges are ~12-13k oz p.qtr so at 16k for the last qtr we did sell a nice chunk at spot.

having said that if you think we will continue at this current production level, then this thing is a drifter for the time being and your theory of questionable investment is valid

i think differently, I expect ~18k oz for June qtr and steadily climbing from there.

More oz produced has a higher % improvement to profit and cash flow than others (admittedly off a low base). More income to start, that income at a higher price, whilst aisc decreases due to volume.