Siameseparrot, ADU were mandated through their debt arrangements...

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.