Theres no way I think they should hedge Zinc as the demand and the stockpiles are very real indicators of where Zn is going. I do however think they could have purchased "PUT" options when the AUD was at .82c
Charts and growth factors in the US clearly pointed to a softening of the AUD against the Greenback. Its a low cost idea just like the back up facility if we ever needed it.
Food for thought next time we see the AUD peaking for no reason !
RVR Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
