News: Gold One International presents at the ASX , page-5

re: News: Gold One International presents at ... Mav

I'm with you on Goliath, I don't think it's a great option. Would have preferred to see them hold it alone or sell outright and pocket the cash.

However, I'm not so sure the hedge would be a bad thing. 10% of reserves is approx 135000ozs, hedged over 4 years so say 35000ozs/yr. Hedge will be going inplace at a time of historically high gold prices so we should get a good hedge price. If gold keeps going up then we lose a bit of profit, if gold tanks, then we have a little bit of insurance. 135000ozs at (very rough guess on hedge price) abt US$1200/oz is still a goog result and will only be 1/4 of production going forward if production targets are met. I see this as a better result than the dilution if bondholders convert.

Just my opinion, it may not ocunt for much, but it's mine! :)