No probs DSpike. I believe the issue has been covered pretty well and you can see the upside here...as well as the security should Au tumble (and it could). We have the luxury of a locked in profit on 126k of Au.
EVG aren't the only compnay looking a little under water with a hedging policy caught out by the parabolic rise.
My main point is that way back then it was a case of no hedging no finance...so irrespecitve of what the price of Au does, it was the correct managerial decision as it was a condition precedent, so to speak.
forward sales, page-8
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