"With just a US$500 increase...!!!"
Why not JUST a US$1000 increase... oh wait, don't want to go too overboard!
Sorry to be a little satirical, but the hedge price of US$1075 is the best price I've ever seen struck (can you think of any better?) by any Australian gold company.
I too believe gold will go up in the long-term, but think it's prudent to lock in some production early.
Essentially ADU now guarantees payback within 2 years, even if the gold price sinks to US$900 (my math suggests they would make US$117m in that scenario).
Ann: Hedging Contracts Locked In , page-5
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