RE:RE:RE:RE:BMO PresentationThe quarterly indicates the contracts can be written out as far as 12months. For all we know they may have written many more since the end of Q2. It is a quick way for them to generate cash, however it comes at enormous expense when the price of gold rises and they have to close out the contracts. Almost all producers has discontinued hedging programs since the gold crash following 2011. It is hard to believe klondex still uses this terrible strategy. For those not versed in accounting just imagine the image of a snake frantically eating its own tail. It works until it doesnt and when it stops working there is hell to pay. The day of reckoning may come in March when financials are released and one of the funds notices the ticking time bomb.