Hi everyone,I have found exactly how much BDR has hedged. It...

Hi everyone,

I have found exactly how much BDR has hedged. It sounds very encouraging to me and I hope to other shareholders, especially with this backdrop of a huge sell off in gold.

The following quote is taken from BDR's presentation from the Denver gold forum in September 2012, page/slide 12:


"A total of 195,000 ounces hedged over 3 years or 40% of annualised production which represents only 11% of current
reserves. Flat forward hedge price of US$1600 per ounce with US$160 million of Brazilian Reals (BRL) also hedged at a
flat forward of USD1:BRL1.9525. The hedging program results in 100,000 ounces effectively hedged at BRL$3,124 per
ounce with the remaining 95,000 ounces hedged at US$1600 per ounce."

I hope this benefits others. I am happy to do some research that may benefit other shareholders.

Have a nice day, this also includes you Reiner.