re: hedging/falko Thanks Ronsteib,Here is the full story for...

re: hedging/falko Thanks Ronsteib,

Here is the full story for those interested, a good read expecially Exploration Upside, also by using your own hopefully not to "realistic" figures you can see that providing we last till then, 08 could be a very good year.
Alas this dummy still has a question for any whom may be trained to understand this type of dutch.
On pg 4 under hedging it clearly states that we are protected to the upside by puts in the first year, but it seems to my small understanding that the two future years we are locked into a contract at X with no upside protection. True/False

www.lafayettemining.com/documents/Grange-LAF%20Sep%2005.pdf

Thanks in Advance for any help and sorry to be a pain in the butt.

falko