Hi guys. The mark to market losses of currency hedges are real. The counter-party to hedge contract #1 (of 2) can close the hedges out in August, if they wish. This will cost the company real money (approx AU$68m). BJT does however have the cash on hand to pay out if need be.
Interest rate hedging (swaps) is a different animal. That, imo, is just an accounting phenomenom.
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VIRIDIS MINING AND MINERALS LIMITED
Rafael Moreno, CEO
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