silver hedging, page-15

PP
For your Poll
Yes I'd be happy to see a locking in of another 15-20% of Ag prodn at current prices.

"Progress with Prudence" is a worthwhile motto.

With curent Ag price at nearly four times that during much of the redevelopment phase of BSM's Que and Hellyer deposits it is prudent to lock in some of this bonus.
So what that the previous hedge now looks like a handbrake on profits - its still a lot of extra cash on what may have been considered a realistic forward silver price.

Leaving 50% prodn. for sale at spot (potentially riding a silver boom) would not be silly under the current financial conditions -nor overly conservative IMO.