"CCU hedged 180,000oz per Qtr (60,000 per month) at $29.6 per oz."
Why do you call this "hedged?"
CCU haven't hedged their bets at all.
Instead CCU has commited to deliver to another party 180,000 ounces of silver a quarter for 10 quarters at a fixed price of A$29.60 - even if silver, which is in a bull market, is $A100.
I don't call that "hedging."
I call it fixed price, non inflation adjused, forward selling.
