Bull 73 - Note 3(a)of 2012 half year report state that 18687 out...

Bull 73 - Note 3(a)of 2012 half year report state that 18687 out of the 30613 tonnes were provisionally sold at $7014US 60% of profit. The final price may be slightly higher. You have a good point there.

On page 5 of the half year report, it states that 19.584 m of the 28.167m hedging gain was put into the income statement. So therefore if we take this amount out of the half year profit, we have a loss of about $7m for the first half.

Given note 3(a) and copper prices for the second half, my guess is a small loss for the second half which will counterbalance the first half profit.