Ann: Dividend/Distribution - FEX, page-65

I'm coming from the perspective that the point of the hedge is not to guarantee a margin on the hedge quantity, but to hedge out the entire cost base of operation at a full production profile (i.e. nil margin). So the revenue on 50,000t monthly at A$230/t is equal to the cost base of 110,000t monthly at A$105/t (or whatever the exact numbers are). The hedge ensure the project as a whole breaks even throughout the hedged period. With cost base covered, any supply above the hedged quantity is essentially pure profit so why curtail production?