Ann: Quarterly Activities Report, page-59

Good wishes to all here. MOY sparked my attention & just trying to do some diligence on this one so thought I'd ask for any thoughts/comments if anyone was willing & would be much appreciated.

In short, extremely high price for recovery @ $1435 per ounce which will apparently decrease & outlook between 46 - 54K ounces in the 2nd half? AISC $1435 per ounce is all inclusive cost so anything above is profit ....so if they produce 50K ounces (lets split the difference) that would equate to min 28 mil profit & possibly much more if ASIC per ounce is reduced (&/or higher ounce recover).
36,000 ounces hedged to 2020 so does that mean MOY can or just sell at market with 0 into hedge with gold at all time highs right now or do they have a minimum timing i.e monthly agreement?
Looks like plenty of resource upside so seems like a no brainer to me....At 90 mil SP, what am I missing?