how is it possible, page-11

Given that the debt facility was negotiated with a silver price in the $20's and CCU is now very well funded and further along the approvals process the hedging arrangments can easily be renegotiated.

CCU will spend their own funds first and use the debt funding only when required. The hedging is then only required when the debt facility is accessed. With Ag prices this high and with forecast payback at 1 year or less risk to the bank is minimal. I would think CCU has many options.

Lets just get our water rights and get cracking.