The company announced they were moving ahead to finalise loan documentation on March 1st, Silver was AUD$34. We may very well be locked in with the hedging at a lower price already...
We might be in the start of a once in 30 years move, however at the moment the move is not that much larger than the other spikes we've had every 2 years of the bull market:
83% over 6 months in late 03/early 04
113% over 4 months in early 06
93% over 7 months over late 07/early 08
the joys of hedging, page-6
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