Given that the company produces about 8000t cu pa, this would mean about 4000t in the next 6 months. There will still be about 2300t unhedged until August.
On another matter I cant understand the repayment of debt required a trading halt...someone suggested another stunt. Yes they have realised a gain and paid off the debt. (The bankers required the company to hedge its exposures to market).
Now they have decided to close out the hedge (presumably because of low cu price and therefore a bigger hedge gain) and are now exposed to movements in cu prices... if the prices go lower, revenue will be lower and vice versa... we are in casino territory now!
AOH Price at posting:
16.0¢ Sentiment: None Disclosure: Held