hui up 23 points +4%, page-4

Thanks Stillthefoxhat. Basically just confirming what Jim Sinclair has been saying for years - that emerging gold producers should equity finance their projects and not enter into fixed price forward selling commitments (the standard gold hedge.)

At least IGR don't have any issues delivering the gold, and the original hedge of 90,000 ounces was not that much.

But in view of the amount of project finance obtained, in real terms it has become very expensive project finance.