Gold is currently AUD1276.
I have serious doubts that in 12 months - 24 months time we'll see AUD1359 as a "nice hedging price." That is just 6.5% above the current AUD gold price.
Instead I strongly suspect we'll be calculating how many millions of dollars this hedging price has cost IGR in lost cash flow.
Ann: Randalls Gold Project Forward Hedging , page-8
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