Ann: EVG commences construction on Las Lagunas Go, page-33

re: Ann: EVG commences construction on Las La... Forward sales do not generate losses. They lock in profits. If they have operating costs of circa $325 US and forward sell at $1125 then where is the loss in that? If they don't sell forward then the banks won't lend enough to finance the project. Alternatively the company will have to raise more capital and dilute the shareholders. You can't have your cake and eat it too.
I am comfortable locking in $800 profit per ounce - particularly on their first project. Subsequent projects will not require the same funding requirements or loan covenants.