re: but copper price doesn't affect mrx
MRX have not hedged anything yet. The hedging curve prices are used as proxies for future copper prices.
They are just hypothetical prices that MRX have used for their financial modelling to get a range of NPVs to show their financiers.
Of course, if MRX wanted to, they could hedge at these prices, and I would imagine that some hedging is likely to take place as a condition of any financing from Westpac. However, note that they don't necessarily have to hedge the whole lot (and I would be surprised if they did) as some of the financing can come in the form of equity (via SPP or placements or rights) or from offtake parties as previously alluded to.
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
