dwecke2000, where did you get 50% hedging from ?. According to last quarter report PEM has 16,246 ton for 2009 and ONLY 315 tons zinc hedged for 2010. For Lead 33,240 ton 2009 and 14,710 for 2010. Zinc is only hedged 15-20% for 2009, for 2010 that nearly nothing or probably there're nothing left to produce in 2010. Lead is probably hedged around 50% in 2009 but look at the contract price $AU1,748/ton THAT'S EVEN LOWER THAN CURRENT SPOT PRICE ! which is around $AU1,960, That's disgraceful ! That's a potential $7million hedging loss already.
PEM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
