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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (49518)	9/25/2007 3:55:36 PM
From: loantech	Read Replies (1) \| Respond to of 78409

Gold Hedging Facility… ?? Implemented in December 2005 ?? 443,000 ounces of gold sold at US$ 574.25 per ounce ?? Monthly US$ flat forward unmargined gold facility ?? Delivery to commence 31 January 2008 ?? Hedge position is less than 11% of current gold resources ?? Gold hedging is a condition of drawdown>>>>>>>>>>>> Recovered gold: 1.8 million ounces (life of mine) • Recovered copper: 200 million lbs (life of mine)

To: marcos who wrote (49518)	9/25/2007 3:56:14 PM
From: tyc:>	Respond to of 78409

I'm sure you are correct in everything you say. I was simply pointing out its sensitivity to an increase in the price of gold, not expressing a detrimental opinion of the stock.

To: marcos who wrote (49518)	9/25/2007 4:00:24 PM
From: Metacomet	Read Replies (2) \| Respond to of 78409

"The current gold hedge is 11% of gold resources; however, Tony mentioned that unwinding the hedge will be high on the agenda for the company as soon as Varvarinskoye reaches mechanical completion. I assume such a move would be very well received by the market. As far as copper goes, there is a sales contract in place that is based on spot prices on the LME. There is no hedging of copper." This appears to be the current situation. stockhouse.ca I added to my B warrants today.