Ann: Financing Documentation Finalised for LLGP , page-9

re: Ann: Financing Documentation Finalised fo... Hi Loki,

My understanding is the same as yours.

Now that the loan has been signed I imagine that the hedging could be one of the conditions that needs to be fulfilled.

I am guessing that this will be announced when completed.

I understand that 50% of first four years production from LL will be hedged, which equates to 30% of entire project production.

BJ keen to hedge above USD $1100, which given the estimated cost of production at USD $325 locks in significant profits during the early years.

I personally think this is smart provided that the risks that cy7 has brought up are factored in - namely what happens if there are commissioning delays or production hiccups and gold cannot be delivered on time.

Still amazed at the dumping today.

Cheers
John