Ann: Mine Extension Drilling to Commence at Kanmantoo, page-41

HEDGING TERMSConcurrent to the capital raising, the Company and Hillgrove Copper Pty Ltd (a wholly owned subsidiary of the Company) have entered into a binding term sheet ("Hedging Term Sheet") for a mutually agreeable hedging program for AUD copper with Freepoint, covering at least 16,000 tonnes of copper (the “Hedging Program”) in concentrate on the following schedule:• 6,000 tonnes at, or as close as practical, to completion of the Tranche 2 Freepoint Placement or such other alternate funding for the Tranche 2 Freepoint Placement and the copper price is above A$12,500/t plus hedging margin (“Tranche 1 Hedging”); and• an additional 10,000 tonnes when certain operating performance hurdles are met and the copper price is within the pricing window of A$12,000/t - A$21,650/t plus hedging margin (“Tranche 2 Hedging”). Hillgrove has the right to (subject to the right of first refusal of Freepoint) to pursue third party offers for the Tranche 2 Hedging if the copper price increases above A$21,650/t prior to achieving the performance hurdles required to effect the Tranche 2 Hedging.The Hedging Program will assist the Company achieve pricing stability for its copper product aCheers nd underpin the financials of the mine plan. The Hedging Program is subject to the satisfaction of standard conditions for transactions of this nature, including:• completion of technical, legal and financial due diligence by Freepoint to its satisfaction;• approval by Freepoint's board of directors to the hedging;• the copper price being greater than the aggregate of A$12,500/t plus hedging margin;
I figure the hedge price is 12500 a tonne but what r the hedging margins.
Cheers Robbo.