Replies to post #14177 on Value Microcaps Junior Miners

[Bobwins]

No,rocketeer, I interpret this to mean that to satisfy the hedge, they would have to give the Hedge holder the physical ozs OR give them the difference in cash between the forward sales price and the current price.

So if the forward sales price is NZ$773 and that equals US$450 and gold is selling for US$950, that Apollo can pay the hedge holder the US$500 difference in Cash OR deliver the ozs of gold. So Apollo can sell the gold for US$950 but they have to pay the hedge holder the difference so they end up with a net US$450 for that hedge oz of gold.