Not so very long ago the 30% hedge at $33 looked good. Now we're...

Not so very long ago the 30% hedge at $33 looked good. Now we're at $41 and it doesn't look so good now.

Hedged stocks get punished as investors and speculators want the clear blue sky. Hedging may look good for the short term but in the long term I think it would be a very big mistake.

Yes we may get a pullback but I think silver is going higher, much higher and I certainly want access to those valuations.

I can live with enough hedged that production and financial stability is assured for the first year or two, but please please please leave the rest alone.