Ann: Atlas approves development of Corunna Downs, page-63

Thanks for that Richie. That being the case, the 20 mill per qtr is a good option
to put aside for CD. I realise that the 50 mill for the development wont be needed
in one total sum up front obviously.
On the topic of the Mar Qtr where the MD in his closing remarks said that profit
would be about the same as the Dec qtr: I took it for granted that he meant it. But it
had me thinking, maybe he is trying to underpromise and overdeliver because even if
they are hedging, hasent the futures price increased reasonably steadily over the last say
5 months?
So that should mean the forward sales in this qtr which have already been locked in according
to him.... shouldnt the be at a higher price than the last?? Therefore margin should be higher, so
why would he say otherwise.
Anyone have an answer to this?