When was the last time you noticed an upcoming producer sell...

When was the last time you noticed an upcoming producer sell pretty much all its gold in an offtake to an "outside entity" and no actual hedging.
How is it possible any other company is going to bid for this lot when all the gold has been pre sold.
The only bid if it does come,will more than likely come from the "connected"
The offtake agreement has probably not been initiated by the company because,well they can sell at spot anytime.
It would appear that Sprott and co are the most likely candidates for the offtake.
I wouldn't be a seller even if "forces" push it lower.