a point on hedging, page-3

Siameseparrot, ADU were mandated through their debt arrangements to hedge the 290,000 ounces (out of 1000,000 in reserves). Neither ADU nor any other company with debt has a choice on hedging, the banks make it part of the offer that a certain amount of hedging is put in place to protect the loan. With ADU if the gold price goes to $2000 the company has +70% of its reserves unhedged and the potential to increase reserves to offset the 290,000ounces. So we have a company that has now secured the funds to build its gold project (not before time) Tick.
Has exposure to a rising gold price of +70% of its reserves, Tick. Has protected the profitability of the project for the next 5 years, Tick. Has not incurred some monstrous mark to market debt as you keep inferring, in fact the hedge is clearly vanilla and as such the mark to market shouldn?t hit the P and L, Tick. Don't get me wrong I am a gold stock holder and have a great wish to see the gold price higher but if I had to wait another 12 months, 2, 5 years in limbo waiting for ADU to bank the project so they could start building I would have moved onto another company with more imminent prospects of production. So I ask again and would appreciate an honest, look at your bootlaces before answering, response to my original question, "will you still hold ADU if the gold price retracts to US$700? And I will remind you again that ADU will still be producing at $700 whether you are in or out.