a point on hedging, page-6

The won't draw down for months is nonsense.

Of course items might not have to be paid immediately, but when big items are ordered the financing has to be in place. The suppliers are probably asking for bank guarantees. What would you tell those suppliers: "when the bills become due, you might have to wait a little bit because we still need to arrange some hedges before we can draw on our loans?"

Things need to be set in motion as soon as possible and all risks for building the mine must be eliminated.

Or do you want to keep the gold in the ground since it will only go up in value?