gold predicted to be 2000us ounce by 2012, page-9

John,

“Re the hedging and put options, etc I am in unfamiliar territory here (simple equity investor :) here). Are you going to the AGM? or is someone else going who would be willing to raise the question?”

I’m not going to the AGM --- I did ask the question a long time ago in an email to Brian --- but the reality is almost no management wants shareholders interfering in company business --- they get upset – democracy at work.

I often think we may have a better chance in getting our point across in a public forum such as this --- maybe I delude myself ---

If someone wanted to pursue the issue with management I would be delighted.

As for put options and forward sales --- I too am a simple equity investor --- but sometimes we may not be that simple – so to speak.

My understanding:

Buy a put option to deliver (sell) so many ounces at a given price --- you have the option but not the obligation to deliver ---

Sell into a forward sale --- you have the obligation to make the delivery --- as you previously stated ---


I appreciate your analysis of the funding --- HC at work.

The media hardly ever mentions EVG as a gold stock --- I like it like that --- only way is up we hope.

Cy7