Well DCN is not significantly exposed to gold spot prices....

Well DCN is not significantly exposed to gold spot prices. Roughly 60-70% of gold produced in this quarter is forward sold for A$1,900/oz. The three following quarters have a similar percentage sold forward at A$2,100/oz. It's unfortunate for a miner to miss out as much as we will to this rally, but it's understandable that management of newly developed mines need certainty in future prices of gold. Hence sell alot forward.