Zinc Price, page-3

The Company continued to execute a short-term hedging program over the quotation period (QP) for sales of zinc and lead metal already produced. Typically, between 80 and 90% of the payable zinc and lead metal for each shipment of zinc and lead concentrates was hedged for the period from the issue of the first provisional sales invoice to the final settlement of the sale, which may occur one to three months later. The QP hedges currently in place on the quarter’s zinc concentrate sales range between US$1.23 and US$1.27 per pound of payable zinc metal, were US$0.89 per pound of payable lead metal in lead concentrate and ranged between $3.55 and US$4.19 per pound of payable copper metal in copper concentrate