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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Land Shark who wrote (37550)12/1/2005 10:31:16 AM
From: ogi  Read Replies (1) | Respond to of 312929
 
Perhaps I am mistaken but I read that as the % of their reserves committed to the hedge, based on a measurement of those reserves at $375. not that that was the strike price of the sale contract.

Cheers,
Ogi



To: Land Shark who wrote (37550)12/1/2005 11:38:29 AM
From: Julian Augustus  Read Replies (1) | Respond to of 312929
 
I understood it differently, viz, the amount hedged would represent 20% of their reserves if the reserves are valued at $375 gold (at a given gold price it would be uneconomic to mine below a certain grade, thus putting a limit on the resource size). I didn't see any mention of the hedge price itself in the NR. I suspect it would only be published on Sedar.


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