I think our issue may have something to do with the hedging terms.
The trigger for first 6000 tonnes was a copper price of $12,500 per tonne plus a hedging margin at the time of the Freepoint Tranche 2 placement. The placement is dependent on the FIRB.
Maybe they are renegotiating this? Still very profitable at these levels and this price malarkey will pass
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I think our issue may have something to do with the hedging...
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