whats the story here, page-23

Hi Guys,

Hedging only covers 42% of production for the first 3 years so copper price will still have some bearing on the share price.
And i think you are also right Rudders, people panic and think Cu price going down, its a Cu company better sell. Even though copper price is still well above base case prices used for feasability.
If you look at the Citicorp report, they valued CUO at $1.60 using a base case of long term copper price of US$1.45/lb and this increases to $1.80 if you increase the long term Cu price to US$2.00/lb. The current price is US$3.28 so well above.
Current general nervousness in the market probably isnt helping either.

Cheers Fero