yes they hedged but astutely at a lot lower $A I think around $1A to 73centsUS for around 1/3 of product in first year
$A is a lot stronger now so they did good IMHO
Iluka announced 2 days a go they are going to increase zircon around 30% in production that has possibly sent a few shudders byt Iluka keeps failing its projections anyway.
