details of hedging - weep....., page-2

I agree . I just spoke with Company secratary and had a look at their 1/2 yr report. I really did start to cry when reviewing their hedging. Basically they have 65 % of reserves hedged out until 2008. Upside only really comes after that. At least they have ability to get some upside for about 45% of production but 65% of heding for all metals is basically set at prices from late 2004. ( sorry I'm still crying). The best I could say is do LT buy but even then you are waiting till 2008 to get benefit of current prices.