Ann: Copper Mountain Mining Announces Q1 2021 Financial Results,, page-5

They may regret doing that if the copper price continues to fly higher for longer, thankfully it was only half of their production with the other half exposed to the spot price which is currently a lot higher. Copper Price currently US$4.44 per pound

o Purchased put options for 28.4 million pounds of copper at a strike price of US$3.75 per pound for the
period of May to December 2021, approximately 45-50% of estimated production for that period.