re: Ann: EVG commences construction on Las La... "I'm definately...

re: Ann: EVG commences construction on Las La... "I'm definately hoping that you are correct and that the spot price of gold does in fact go to $1,500oz and stay there and that under that scenario BJ hasn't hedged 50% of LL production"

If Au went to $1500 it wouldnt be hard to douuble estimated production by putting in a ball mill in front of the isa mill and doubling up capacity of the CIL tanks on the albion side. Then only 1/4 of the production would be going into the hedge.
Its not like they are going to run out of the tailing feedstock for quite a few years.
But I feel best to hedge 50% of name plate capacity for the mill just to be on the safe side .

Even though on a value basis I hold mainly fully paid shares I have voted in favour of the resolutions for 4 reasons
1 management will have more incentive especially with delivering into a potential hedge
2. managemnt have more capeabily in blocking a T/0 by holding a bigger slice of the stock on issue.
3. the 15 cent exercise price provides a decent hurdle to jump for the oppies
4 the 15 cents will provide needed capital for Venezuala project.