Ann: TGO Executes Gold Hedge for Working Capital Facility-ALK.AX, page-2

• Gold Operations Pty Ltd (TGO), a wholly owned subsidiary of Alkane Resources Ltd, executes initial documentation for credit approved $14M loan and hedging facility with Macquarie Bank Ltd.
  
  
•  TGO has entered into A$ gold forwards for 48,633 ounces at A$1,715/oz in satisfaction of a key condition precedent to financial close.
  
  
•  The new forwards, in conjunction with the existing contracts for 24,000 ounces at A$1,618/oz, will be delivered into over the next 16 months to underpin strong operating cash flows.
  
  Gold has just touched $1289USD which is $1749 AUD.
  Alkane has forward sales of 48000 oz at $1715 and 24000 oz at $1615 in AUD.
  At this rate they have LOST $1.634mill and $3.216 mill.
  Good one Alkane!
  Here's a note get out of these forward gold sales!
  There is no more enthusiasm now with any rise in gold movements!