- The agreement with Yunnan copper is a written contract for the...

- The agreement with Yunnan copper is a written contract for the first 50kt of copper in concentrate @ US$45/t concentrate and 4.5c/lb of refined copper
- the metallurgical testwork is due for completion soon.
- the hedging can not be done at this stage. - not until project progress alot further?
- but can consider a strategy like
1. buy copper put options,
2. obtain finance,
3. sell the puts and take out a hedge position.

obviously, directors know alot more and better about the current situation than most of us do.