Guess this upcoming quarterly profit, page-95

Hi There InvadorSubziro

You do not have to worry about HGO because of Freepoint.

HEDGING TERMS
Concurrent to the capital raising, the Company and Hillgrove Copper Pty Ltd (a wholly owned subsidiary of the
Company) have entered into a binding term sheet ("Hedging Term Sheet") for a mutually agreeable hedging
program for AUD copper with Freepoint, covering at least 16,000 tonnes of copper (the “Hedging Program”) in
concentrate on the following schedule:
• 6,000 tonnes at, or as close as practical, to completion of the Tranche 2 Freepoint Placement or such other
alternate funding for the Tranche 2 Freepoint Placement and the copper price is above A$12,500/t plus
hedging margin (“Tranche 1 Hedging”); and
• an additional 10,000 tonnes when certain operating performance hurdles are met and the copper price is
within the pricing window of A$12,000/t - A$21,650/t plus hedging margin (“Tranche 2 Hedging”).
Hillgrove has the right to (subject to the right of first refusal of Freepoint) to pursue third party offers for
the Tranche 2 Hedging if the copper price increases above A$21,650/t prior to achieving the performance
hurdles required to effect the Tranche 2 Hedging.
The Hedging Program will assist the Company achieve pricing stability for its copper product and underpin the
financials of the mine plan. The Hedging Program is subject to the satisfaction of standard conditions for
transactions of this nature, including:
• completion of technical, legal and financial due diligence by Freepoint to its satisfaction;
• approval by Freepoint's board of directors to the hedging;
• the copper price being greater than the aggregate of A$12,500/t plus hedging margin

Keith