march quarterly report, page-4

I work in the mining industry and we are getting mixed messages. Commodities and share prices have all increased significantly and yet the world economy is still looking very shakey. The US, Europe and Australia are still heading down. China appears to be hope of the world.

If I was PNA I would be locking in some production at current copper prices. However the aim of hedging is to reduce risk, not to make heaps of money. They should cover debt repayments at least.

See also

http://www.theaustralian.news.com.au/business/story/0,,25374132-15023,00.html


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