thanks bugwan yes correct, but you left out the $1183 in Sept...

thanks bugwan

yes correct, but you left out the $1183 in Sept 2018 Q1 that I mentioned

http://www.troyres.com.au/images/Reports/June_2018_Quarterly_Report.pdf

there was a hedge of 1185 in Q3 2018

Sept Qtr. 18 = 9,000 $1,183,65 Done
Dec Qtr. 18 = 13,000 $1,233.34 Done
March Qtr. 19 = 3,000 $1,344.80
TOTAL 25,000 $1,228.83

so the total hedge book left is now only 3koz at U1344 so thats well above the spot price of 1287
No indication of new or larger hedges at current prices.

So the hedge book appears cleared from discounting on spot price and is actually in the black right now in Q3 above the spot price. So I expect they would have scheduled this remaining hedge sale in the first few weeks of January to gain the higher cashflow.

I suspect the hedge book has been cleared and spot prices will be used hereon and this lines up well with the net debt free position and higher POG.

This black hedge & higher POG witll thereby boost FCF in Q3.