tritton produces **copper **, page-6

Plough
Apologies for not replying - I dropped TTT for other prospects and only check to see what was happening after there price plunge recently.

Dont know what is happening - but damn glad did'nt on them in the end.

I believe the price quoted of 1000pt is incorrect I meant to say they hedged about USD 1000 below spot ie about USD 2400.

Your comment about the costs of mining is extremely relevant in this environment. Basically heavy hedging in a boom environment is bad bad bad , and overhedged companies will pay dearly. As some already have. The trap with hedging in a resource boom is of course you miss out on the upside of a surging spot market. The problem is you cant hedge your costs. Booming spot prices means more investment and production by companies, price pressures for scarce resources [labour, chemicals, shipping] eat straight into margin. Good knows even a monster like the Telfer mine is being hampered by these issues.

Unwinding the hedges will be ugly as well.

I suspect [without looking at any news in the last month] they are getting ringed. If this is indeed is the problem the only answer is to ramp up production beyond max and cop greater exposure to the spot market.

cheers