hedging I am not sure that some punters understand the hedging that PSV has in place. Sure it has locked in a price level that is below that current spot price for a portion of their gold, but it is still selling it at a good profit and all the rest of the resource is available to be valued at spot prices. This was arranged to satisfy their bankers. In the quarterly they state that over $10 million in debt was paid down. THis company has only a small amount of debt on their books and has great cashflow and with money in the bank. Producing over 100,000 oz per annum with production process working like a dream and upgrade of resources a certainty as drilling at Wirrawilla has shown 11m at 11g/t.
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PSV
perseverance corporation limited
