Seems they are getting paid when the containers arrive at port. It takes all the containers they have to fill a ship. FAP payment terms for 95% of estimated valuev seems to be the go.
Reasonable to assume they are cash flow positive as they have plenty of hedging at $12,500 /t even if the price drops below that. Reasonable to assume they wouldn't hedge at a price where they are not making a decent profit that covers their operating costs and cap ex commitments to develop the mine.
Ann: Australia's Newest Copper Producer Presentation, page-27
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