Hedge reduction $21-000-000Reduced hedge by 43276 ounces at a cost of $21 000-000.The original forward gold sales contract is based on the average price $876.Gold currently is trading at $1356.30.We will not know what the price of gold will be, come January 1 through the end of Sept . until that time has come.However, if you take a projection how much gold we will produce, or how much we can sell from Jan 1 through Sept. Taking the current price and subtract the hedged price, I think you come up with about a difference of $480 per ounce.That amount multiplied by the number of unhedged ounces sold. will go back to Brigus coffers plus of course the difference of the cost of a ounce of gold produced and the $876 hedge price as I understand it.I am not sure that the amount of ounces of gold that can be sold from Jan1 through Sept is capped. Because if you take the given reduced hedge figure of 43276 and multiply that by 480, you will get a figure of $ 20-772-480.I stand corrected If I am in error.Any Ideas?. The forgoing is my opinion only. Please DYODD .Cheers to all. Josa.