re: emperors hedging Thanks Top,
So, with the current POG of U$346/oz ( = A$615/oz),
the cost to EMP of their hedging is A$49/oz,
or
$4,171,860 per year for each of the first 4 years and then $1,042,965 for 2006/7,
or
a total of A$17,730,405 the POG doesn't go above the current U$ 346/oz before July 2007 and/or IF the US$ doesn't devalue.
I do not understand why some of the knowledgeable folk here (and I think they really are knowledgeable) are saying "don't worry about producers being hedged".
bye.dub
emp, page-6
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