hedging, page-2

Hello all
Hi Von wipps,I agree with you 100% and I am also dumfounded how Perilya lost $49.7million on metal hedging.When I looked on page 3 of 3 on the half year financial results and noticed that Perilya's hedge book was approximately A$21.6m out of money at 31/12/07 compared to A$105.1 out of money as of 30/6/07.This is the main problem we all know, but I do not understand how,why and when so I sent an email to Perilya an hour ago and asked if someome can explain this matter to me.I will let you know if I get an answer.Zinc and Lead are making great gains at the moment so this should help Perilya alot.Bring on the merger
Good luck
Bye Hoggle