Ann: Peru Iron Ore Update and Hedging Position, page-11

Unfortunately SRK and Peru is not that option. I agree with @LD99 and @JPGuru thoughts above. That announcement was managements attempt at trying to use a headline to pull the face mask up over your eyes instead of your nose ! Who says we have a hedging position and then when you read it they hedged a whole 30,000 ton (1 shipload). Seriously - this is like watching the Muppets on a Sunday morning with the kids except their actions (or lack thereof) have an impact on shareholders wealth.

FEX hedged as well, half their production for 12 months !!!!