evg's forward gold sales, page-4

I agree with that.

However in general I still prefer some hedging to a large capital raising (realising that sometimes it works out worse.)

The thing is if all their plans materialise and in 3 years time they are producing 200-300k ounces of gold a year and the spot price is perhaps 2500 an ounce then we will all be glad they didn't have a 30% dilution.

And the share price would easily be a 10 bagger from current prices.

Twinsen