Gold Hedges out of the money

Price of gold, a wonderful thing. Keeps one musing for hours.

Always nasty when the gold price goes up?????

Gold equity investors hate hedging. because, simplistically, as the gold price goes up (as we believe it will) , we don't get to participate in the gold price rally.

So where are we at here?

Troy has 75,000 ounces of forwards at an average delivery price of $1095.73 according to Dec Q Report.

With reference to the traded price of gold presently. That's circa $126/oz out of the money.

Net net... a $9.45m hole.

Not a biggie, and again not a reason to get v angry. Just an observation.