No Comment either way, but just remember that LAF had outstanding debt of A$167.2m with cash of A$9.9m at the end of the Mar quarter.
The hedge book is so far out of the money it would be funny if it wasn't so painful.
Commodity...Quantity...Sold Price...Spot Price...Unrealised loss
Copper........12,850t....US$1,874/t....US$7,300/t........US$69.7m
Zinc............16,350t......US$955/t....US$3,700/t........US$44.9m
Gold.........145,887oz....US$412/oz.....US$646/oz........US$34.1m
Silver.....1,224,557oz...US$5.84/oz..US$13.00/oz........U$8.8m
Total unrealised losses approx US$155m
LAF
lafayette mining limited
