Look at it another way. BML can hedge its Pb revenue to satisfy the bankers need for security and leave 100% of silver revenue unhedged and free to participate in 100% of silver price upside.
Silver only miners will need to hedge a material portion of their silver revenue to satisfy the bankers, meaning a material portion of the silver revenue is capped and not fully participating in the upside.
SS1 Price at posting:
42.5¢ Sentiment: Buy Disclosure: Not Held
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