how much hedging

I am not clear how much hedging they do. I found this in last year's annual report:

'Hedging

As at 30 June 2006 the Company had 126,000 ounces
of committed and hedged gold positions comprising
115,000 ounces of bought put options and sold call options, and 11,000 ounces of gold forward sales.

The bought put options are exercisable at A$700/oz, the sold call options are exercisable at A$770/oz and the gold forward sales are priced at A$774/oz.

Based on a spot gold price at 30 June 2006 of A$810/oz, the mark-to-market value of the 126,000 ounces was negative $9,371,000. This unrealised loss is allocated $5,029,000 (before tax) to the Gold Hedge Reserve (representing market value movement) and $4,342,000 expensed to the Income Statement (representing the time and volatility value movement).'

karoshii.