Hi PickupHave a look at this extract from an earlier brokers...

Hi Pickup

Have a look at this extract from an earlier brokers report. CUO still have their production well hedged

Margins protected. Although we are forecasting copper prices to hold at or above US$3.00/lb for the next 40 months, if they were to fall, margins have been protected by A$ based hedging that covers ~42% of production for 3
years at A$7,230/t (US$2.78/lb @US85¢).

 Debt repayments protected. Based on expected cash costs this hedging should enable the company to generate sufficient cash, net of the hedging cost of $90m, to extinguish debt by FY10.