Guess this upcoming quarterly profit, page-96

You will have to search but believe its $AU 13k/tn Copper.
As they declared "Commercial Production" that means they now also are also up for paying a 0.25% extra as state royalty until they have paid back $1m of a $2m part of a grant they had also received.

Whether that means all ore prior to this declaration date was hedge free and everything from now on is to the hedge,that would come down to the contracted details as to when the hedge starts,but it is a possibility they have milked higher pricing on start-up tons and now have the hedge for 50% of ongoing production for the next 2yrs for 16000 tons of Copper.

At US $4.17 it is still up over 8% on 12 months ago,when start-up was all "Gung -Ho" forward.

Remember this mine currently has a rather finite life.(Nudge,Nudge,Wink ,Wink),until the drill officially confirms suspicions otherwise to make the Market Cap look a joke.
Once that changes and production tons NATURALLY increase on the back of that, then so will many of the economics also change to the positive in lower ton costs.
So many costs are already in the "to die for" bracket,including NO PLANT EXPANSION COSTS ahead for 250% increase if possible on planned production and lowest possible decile ongoing costs,being CHEAP GRID POWER,LOCAL LABOUR (no residential camp,no FIFO),EASY ORE TRANSPORT (short 70km trucking to export port)

Regards,
DYOR + DYODD We will know soon enough about the QTR's results and then followed by some drill results,hopefully followed by increased production activity.