Yes it's a opportunity loss. But this still blindsided me as i didn't go back that far to see the hedging, as i was referring to current hedging.
Of greater concern is subtle rise in cash cost to 0.95/lb when previous guidance only two months was 0.80 to 0.85/lb.
In addition the production forecast has been moved down, yet we now have the Beltana stockpile ready for sale, so the question is just how bad is broken hill?
PEM broken hill immediate future may be decided on CBH coming to the party. But who needs who more? CBH will attempt to extract the best deal they can, unfortunately i feel PEM has no choice but to agree. Also Toho Zinc whichs holds 26% of CBH will protect its interests.
PEM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
