Catalpha need $92m to get their gold mine off the ground. A cap...

Catalpha need $92m to get their gold mine off the ground. A cap raising will flood the market with their shares but hedging gold at the current record price might be a smart move.
The gold bugs will laugh but as a long term holder I am tired of waiting and I don't want my holding diluted to nothing. I want a working mine.
Also I know one thing is for sure, however high the price of gold rises, it will fall again like it always has in the past. It may not fall as low as $250 but then again it might not rise much further either. There are no certainties in this market.
At current prices CAH can mine at a good profit and make healthy returns to shareholders. I believe the company should hedge 50% of gold production for the first 3 years at current levels to get this mine underway.
Hedging gold is a much maligned strategy but it can be argued that in the 1990's it helped keep some mines in production. Hedging at record low prices looks dumb in hindsight but at the current record high prices, maybe less so. JMHO