ccu=cash cow united, page-15

tthace, hedge at what price? $20, $25, $30?

Conditions of hedging, margin calls, etc. - We really need to see what the terms are before approving of it.

Why not raise another $22m from a CR, then you've no debt/hedge risk? Easy enough in this climate (even in March when silver was $34 and the hedge was announced), dilution not that great and soon recompense shareholders with dividends.