Comment on PAN nickel hedging for June quarter:
I t appears to me about 70% on PAN’s production for the June qr is hedged at prices above the spot price.
Am I reading this correctly?
Assuming an AIC of 16 Au cents / lb (worst case hopefully?) PAN will be ~ cash flow neutral in this qr according to my rough calcs.
As noted in this board their prospects are not that positive after this unless pon goes up or costs come down. …
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