the way is see it, page-3

steini, hedging IS a fixed price.
You can be as confident as you like - but that's not always wise, especially in the current financial environment. The company has guaranteed its cash flow at the most critical point of its emergence as a producer. If silver drops back to $20, they'd be trying to raise funds at an impossible time. Just what happened to MMN - although they had the rubbishy EWW as well.
I think it shows exceptional management.