lol........I don't want to puzzle you anymore than you already...

lol........I don't want to puzzle you anymore than you already claim to be.
Perhaps you should read some books on the subject, there are hundreds or get someone to read to you if that works better for you.

On another note I have been trying to keep up with BRL hedging position, with coking coal dropping in price over the last 3 months the forward contract curves have risen which should make it easier to secure good hedging positions.
Normally BRL via BT mining hedge about 15% of production but their last 1/4ly indicated that had risen to 25% of export production. They normally clarify this in the year end report