Ann: September Quarterly Report, page-7

I believe that like Colinchi mentioned to receive the required loans to develop Yaoure PRU had to hedge a lot. unfortunately, they did more than they would like to and at a price that was a lot lower than now. and that has been improving.

But that decision was a long term decision during tough times to make sure they could develop the new mine. But short-term that certainly put a cap on earnings, especially now that the gold price went up to US$1500.

The good thing is that from 2021 we will have Yaoure producing around 250k oz of gold and current hedging will be mostly gone. POG hopefully around $1650 by then.

As long as the management keep delivering on production, lowering cost and mine development on track, Like they had been lately, we are for a very good ride. I am a lot more confident about PRU future than in the past 3 years were there were dark clouds around it.

It seems the hard times are behind us and the future looks good.