forward sales, page-11

I copied this from the July 2011 Qtrly report:

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Project Finance
The project is fully funded with EnviroGold having provided US$36 million of equity. Macquarie Bank Limited have provided a US$7.5 million advance which will be repaid by a 3% gold royalty, and is progressively providing a US$37.5 million project loan. The loan should be repaid within 18 months of the first gold pour, which is expected in early 2012.

A Dominican Government-owned Bank, BanReservas, will provide standby facilities in the form of a US$2.5 million four year project loan, and a US$2.5 million overdraft facility. These loans have been arranged to finance any project cost over-runs if such becomes necessary. EnviroGold has forward sold 126,000 oz of future gold production (30% of total production) at US$1,358 per oz, less fees.
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Given current gold prices the loan should be repaid a lot sooner than 18 months (even with the 30% hedge). That will free up cashflow to fund exploration in the other great prospects we have.