i totally agree with you , just look at barrick golds price...

i totally agree with you , just look at barrick golds price slide from a run from us$255 an ounce to $US320. lhg is hedged to a minor extent but then so is sbm. they call it insurance purposes. they bailed out of most of the hedging last financial year and made a $17 mill loss as a result , but have now just hopped back into some more stating that at the hedge price of $A585 the gold price has only been higher than that for one per cent of the time in the last 10 years.