CCU just announced that:27 July 2011ASX ReleaseSilver...

CCU just announced that:

27 July 2011
ASX Release
Silver Hedging
Cobar Consolidated Resources Limited (ASX:CCU) has purchased 1 million ounces of silver
put options with a strike price of A$30 per ounce expiring on 30 November 2011.
The options have been purchased to provide a level of certainty that funds will be available
to progress the development of the project in the event of a significant decline in the silver
price before the conditions precedent for draw-down of the finance facility have been
satisfied.
Investor and media enquiries:
Trevor Shard
Company Secretary
+61 3 9866 8613


AYN had its hedges at A$27 few months ago.