PAN 0.00% 3.5¢ panoramic resources limited

Hi,I generally understand hedging, however I must admit that I...

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    Hi,
    I generally understand hedging, however I must admit that I don’t fully understand the effects on PAN’s shipments. It would be great if someone could explain more fully using the 3rd shipment as an example.

    The 3rd shipment was total of 10,347t nickel-copper-cobalt concentrate and departed on 2022-04-01.
    Provisional invoice submitted.
    -Payment expected a week later.
    -Payment of US$21.8M (~A$29.2M) inclusive of all three metals contained in the concentrate.

    What would the final payment be, if nickel price had:
    -Increased 10%
    -Decreased 10%

    Thanks.
 
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