Ann: Response to an ASX Price Query , page-11

Thanks Greasyfast,

I guess only financial issue then are the futures. I don't know the size and schedule of the individual hedges, but it may be that the company can not afford to take delivery of these futures. They have roughly 100,000 ounces in hedging this year which I gather are $100 per ounce or more underwater (any idea what the av hedge rate is for 09?). ie if they were not able to roll over the hedges they would be called on $100m+, which they don't have.