Thanks for the info guys. Very helpful. The other factor that...

Thanks for the info guys. Very helpful. The other factor that gives me confidence is our premium for high grade and I hadn't even considered that in my calculations, preferring instead to keep it aside as a buffer. So if one considers the hedged price v sale price, the premium closes the differential so the hedging benefits us a lesser amount than without the premium assuming we are selling at least some of the high grade at the hedged price, and also assuming the hedged price is greater than the sale price. If the sale price exceeds the hedged price, the premium is money in the tin. With my crude calculations I've been pretty accurate in the past with my forecast of income and operating margin.