You'd have to admit, locking in copper at AUD$4.19/lb is indicating an annual profit of AUD$37.7 million annually. Although I think Macquarie Bank will make a bundle too. Copper is heading north at a rate of knots.
Andre should also remember that it was bad copper hedging by previous management that brought Straits Resources undone. All those shares that were issued previously were part of undoing that copper hedging unwinding. Lets hope history doesn't repeat itself.
If copper goes to US$4.50/lb we'll all be spitting chips.
Ann: ADDITIONAL COPPER HEDGING FOR TRITTON, page-5
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