Golden Goose, page-104

Yep they had a hedge in place with Credit Suisse at around A$1800 (?) from memory.
IMO they were pressured to closeout when the hedge was in the money enough to cover the A$11M debt MYG had. The same happened with Alkane. It was a ridiculous closeout as it was there to protect the project & it should have only been closed out when the gold price was clearly going to prevent the project going ahead. i.e. quite a bit lower. The hedge was closed out only a week or two before gold was slammed. ...Coincidence or just bad timing, I'll let you decide...

Anyway the main reason I think that this project didn't get funded when gold was at $1800-1900 was no one could get comfortable with the metallurgy. It was an area I challenged management on several times & never got a straight answer. It was always the tests were coming, or its at the lab. So unless there has been some resolution around that I think the project is still a high grade dead duck. Solve the metallurgy & get the recoveries up & then you have a cracking project imo.