Ann: EVG commences construction on Las Lagunas Go, page-25

re: Ann: EVG commences construction on Las La... cy7 wrote "US$900/oz at exchange rate 75c is A$1200/oz"
"US$1091/oz at exchange rate 91.3 is A$1194.65"

It seems the quotation given by evg of $900 an ounce with an outcome in $A1200 is very close to current price 0f Au of $A 1195 an ounce its just that evg discounted gold price in favour of exchage rate but the results are virtually the same.

As for hedging I am happy with half the production being hedged this isnt a sons of gwala situation where there was complex hedging and mines that were falling in production due to mining very poor grades and unable to deliver into the hedge book on a rising gold price . Admitadly we are banking on the up scaled albion process working at at least half of name plate capacity . Personally prefer production was hedged as it provides security to all stake holders. and the hedge will be I am guessing greater than US $1050 an ounce so a lot better than mines that are hedged now in the $800 range.

But agree better to underpromise than over promise.