earnings, divs and sp, page-11

Al,
From my understanding, OZL does not hedge the Copper price and does not have a fixed price for copper.
The Sept qtly report indicated on page 4 that "Copper prices averaged US$2.65/lb for the qtr, up 25% on the previous qtr."

When words like "averaged" and "up 25% on the previous qtr" are used, the implication is that the Copper price is definatetly NOT fixed.

HT1