= $125.64m of production hedged (roughly half of the lower production targets for gold, zinc and lead).
Quite prudent of the company to do so during this time of growth capex; some would have preferred gold to be unhedged however this is easy to say in hindsight.
With gold about 10% above hedge price, this means net price received is 5% less than spot (e.g. half sold at spot and half at hedge price).
AMI Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
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