RE: RE: RE: RE: RE: RE: RE: Brutal The hedges were only removed for 2013 production. Still have 114koz hedged for 2014 and beyond (see note 15 of Q1 FS). Worth noting that, should gold remain where it is now at the end of this quarter, those hedges will show a considerable profit when marked to market. They also sold their bullion this quarter, to ensure full protection from the hedges. Sensible. Will help maintain a strong balance sheet with a significantly reduced derivative liability. Cheers, Mark