copper ? what`s happening?, page-5

re: but copper price doesn't affect mrx Have you got the right stock Fedex?

MRX for Matrix.

They have not secured funding yet, and as such no hedging has taken place, and the company has not discussed what kind of hedging they have in mind.

What they did talk about is using the forward curve for their financial modelling to come up with a range of NPV's to discuss with their potential banker (Westpac).

If Westpac comes to the party, don't assume they will require 100% hedging, when it is finalised. There are alternatives, such as partial funding via equity, and also from offtake parties..which will reduce the requirement to hedge to satisfy their loan provider/s.