I have read this thread with interest. Hedging for the QT period will reduce any downside and upside exposure to Copper prices. It is one way of not having a large bill that you may not be able to pay. Alternatively, if the price is rising, you do not get the windfall. It would appear to be a conservative strategy.
I think we should applaud Mikayla for pointing it out to HC members. Good job well done!!!
Whether or not you support management on the strategy employed is a personal matter dependent on the level of risk you are willing to accept.
We should be careful when we criticise those that have a different view to us. They may just be pointing something out that we have missed.
I do not own PNA, but I have seen many posters on other threads who point out bad news, and who are actually right.
They should be congratulated for having the courage to speak out.
HT1
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policy of hedging 50% at us$1.45/lb copper, page-12
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