Ann: Quarterly Activities Report, page-102

Morning gassed,

POG - AUD as well as US doing nicely, but still range bound of late. Just waiting for that break to the upside.

Speaking of POG, LNY reported - 17 Feb 2016, the following:

"Terms for a gold and silver refining and sales agreement for up to 100,000 ozs of gold production have been agreed with Australia’s second biggest precious metals refiner, Focus Metals."

and....

"The gold and silver refining and sales agreement with Focus Metals enables Laneway to predicably lock in refining costs in a burgeoning gold market, and to provide a solid basis for future gold-backed financing of organic growth at Agate Creek."

The statement clearly states "refining costs" have been locked in, but has 100k ozs forward gold production been hedged?...if so, at what price?

I seem to recall one of the posters asked this question of Vaughan, but I can't remember his response. Besides, LNY have never mentioned it since...strange!

Any idea?....otherwise I'll give the company a call.

Cheers,