impact of today's placement announcement, page-20

Not sure if anyone has mentioned this yet but please excuse me if it has been said already..

Just one other point about that debt repayment ,if we pay that 20 or 25 mil off quickly does this mean that we no longer have the hedging position ,hedging has sent so many gold companies broke..

Imagine oil goes through the roof and it cost heaps more to produce and we are locked into the hedge.

At least if oil goes and the POG goes up as well the margin stays the same.

Maybe this might be one of the main reason for the placements