My understanding of this was that LHG borrowed some gold from...

My understanding of this was that LHG borrowed some gold from some banks, shorted it, and used the money to refinance the hedge book and other bits and pieces, and use the rest for working capital. Repayment will be via its own production.

I guess if gold rises, LHG will be kicking itself. If it falls we have a hedge and some profits which will be booked. Does this suggest LHG's view of the direction gold is heading??