copper price, page-37

Interestingly, with the fall in the $A wrt $US, whilst the price of gold has dropped by approx $US 130-140, the price drop in $A has been much less. So the fall in our unhedged gold is not as large as might appear. And we have a little unhedged copper as well. Presumably, the recent fall in copper price has likewise had a much lesser impact on $A price.

Our forward sales are hedged in $A, “to manage the Australian dollar copper price risk”, (last announcement at $A9,009, previously av of $A8,913 and then some at $9,110). As it turns out, a shame bit hedged in $US since a nice bonus with $A conversion. But much safer this way.
I have just re-read the Chairman’s AGM report and the last quarterly update. Well worth a re-read. Seems pretty clear intent to sell pumped Hydro project. Presumably, if some good ore found under area of project, this will increase the sale price if it cannot be mined! Compensation for lost ore profits??? Not sure of geography there though. All still looking good from my reading.
GLTA.