10 g/t gold, page-7

I hope they go down the debt path. One of the likely outcomes is forward hedging some part of production, but I don't have a problem with that with prices at their current levels.

I'd argue it is a sensible risk management strategy for a junior to mitigate any unfavourable swings in price. If you're a one project company it might be a shame to miss out on commodity price upside, but the consequences to the downside can be lethal.

The goldbugs who predict gold at $2k, $5k and $10k won't agree with me (trust me I'm not upset by that).

JT