Silver had had a good run and management made the call that they should hedge part of production- this is prudent management which I fully support. OK, in hindsight is was the wrong call- but at the time it was the right thing to do.
If it had fallen back to $15 we would be calling for their heads.
Should they hedge in future- as far as the tailings retreatment goes, part of the financing deal will require a fair % of production to be hedged and we can only hope that the Silver price is still at current levels or better when the time comes.
cheers
silver hedging, page-11
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