so long and thanks for all the shares at 55.5, page-7

I re-read KZL report and have one concern, which might be a reason for sp drop - hedging.
The fall of metal price might also contribute to the current sp

KZL HEDGING
Forward Sales Contracts
As at 30 June 2008, 4,750 tonnes of copper
was hedged at A$8,981 per tonne.
Options – Copper
The Company has a hedging program in place covering
30,000 tonnes of copper maturing in 30 equal instalments
of 1,000 tonnes per month to December 2010. The
hedge program is a zero cost stepped cap collar
arrangement having a floor price of US $1.30 per pound
of copper with a cascading ceiling price of US $2.90 for
2008, US $2.36 for 2009 and US $1.81 for 2010.

Any thought

NJ