forward sales, page-5

They will most likely have a time period (start & finish) during which they will have to sell the 126koz of gold into (at the hedged price). They may well have the flexibility to sell into the higher price first to get early cash flow, but I'm not sure. There may be a condition that says they need to sell a minimum amount per quarter into the hedge. Conversely, if gold corrects, they would most likely want to sell more into the hedge early on. Best to contact the company to find out the details though.