details of hedging - weep....., page-3

hedging is a requirment of the banks. It is common for small outfits. Where it can be dangerous is when production doesn't meet the hedging requirements.

65% hedged for the loan term.

Gold - 60% hedge
Copper - 50% hedge (unhedged 1st yr)
Zinc - 50%
Silver - 60%

Based on some quick calcs, i get revenue of almost 150 million AUS (0.75c for US/AUS conv) dollars a year (not taking into account first year of unhedged copper), and over 1 billion for mine life.

So current share price*shares on offer would be close to cashflow/yr, that's rarely the case. Market cap could easily be 300,000,000 with such revenue.