Maybe I see this differently. If management consistently aim to hedge a fixed percentage of forward production we should always see the benefits of an increased price just delayed by the duration of the hedges. Also in the event prices tank you can obviously choose not to hedge but will have 6-12 months warning that your price and hence mine cashflow will fall rather than being at the whim of the market.
AMI Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
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