Gonnella's figures don't addup and Macca's are using a bit of...

Gonnella's figures don't addup and Macca's are using a bit of the old smoke &mirrors to justify the purchase price.
Half way through the article, the inferred resource is quoted at 30.3 thousand tonnes of nickel metal.Yet near the end talking about hedging suggests 7 thousand tonnes is hedged -leaving 83% unhedged?
Then John Santul from Macca's is quoted as saying the purchase price was light in comparison with other Kambalda purchases- A$855 per tonne of contained nickel cf a range of A$580 to 1000. That looks just over mid-range to me, but by far and away is the total irrelevence of this benchmark in the first place. The Lianfranchi grade is 2.6% cf the others averaging north of 3%-the others are potentially far more profitable if facing similar mining costs and hence would justify a higher premium. The Macca's use of this tool is therefore misleading.
Cheers,TAS