hedging, page-3

Teranga may have found some legs today

I agree that the hedging is a drag.

Also for next year we see a drop in forecast production to 130koz whilst cash costs escalate to $808 due to the strip ratio deteriorating.

Short term investors don't like the look of that.....medium term, this is a beauty on production alone, particularly once plant expanded and the potential Oromin ore becomes available????

The other wild card is the 41,000 metres of drilling planned for 2011....good results will help investors ignore the remaining hedged oz.


Discl. I took more of these up in the IPO