zinc up nearly 12% overnight , page-5

the hedge was put in place as a one of the conditions from the bank of china loan to buy out the original bad silver hedge when the Chinese brought in. i expect if silver goes up much more they will buy this one out as well and think this maybe why they have fully paid off the 49.5 million that was outstanding on this loan a year early. the Chinese connection allows near unlimited very low interest borrowing for pem and the silver hedge was said to represent 50-70% of their silver production bear in mind this was prior to the purchase of globestar so the percentage would be a lot lower now.

just thinking out loud dyor