Ann: RIU Explorers Conference Presentation, page-9

Unfortunately the hedge may have been out of management control at the time as Lind may have imposed the hedge as a condition of finance which is common practice. Remember Lind would have been privy to production forecast and if determined a risk than that explains the 24k ounces rather than the traditional 16k ounces in the past. 
Please also consider with operations being so tight the hedge will accomplish what a hedge does which is reduce any downside risk. There was no guarantee at the time that POG in USD and AUD would be at this level already and other miners only managed low $1,700's around rhrbsame time like MOY.