PNA 0.00% $1.84 panaust limited

Mikayla:"Any hedging at at US$1.45/lb copper now is not good...

  1. 956 Posts.
    Mikayla:

    "Any hedging at at US$1.45/lb copper now is not good with a copper price at US$2.50/lb."

    I tend to disagree:

    A management that did not hedge back on 31 Dec 08 would not have been doing their job, this is a case of dammed if you do, dammed if you don't.

    How about we call it "now not convenient"?

    .........

    "Would like to see the extent of current hedge book."

    I agree. Until we do, I shall consider that 50% @ $1.45 and 50% @ 2.50 equals 100% @ $1.98, and that is still $1.20 a lb over production. With 100% sold, now a moot point, but back in December 08, a very good management decision.

    Just a month ago, $1.98 was the benchmark destination.

    I'll stick with management on this one.

    Stu


 
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