This is a good move to reduce downside price and currency exposure. However TZN have been struggling for months and could have made this type of transaction well before this stage, as have most of nickel producers at different times. There is also no update on how profitable Angus is at current prices with this hedge, and again any significant distrubtion in operation could be terminal for the company. An agreement on the Algerian project for cash would help out, but clearly zinc market is not favoured at the moment and may not happen.
TZN Price at posting:
5.2¢ Sentiment: LT Sell Disclosure: Not Held
