Ann: A$14 Million Silver Hedge Financing , page-5

It was the hedging that crimped this company?

My memory tells me that it was the hedge book that eliminated all of JML's debt and ensured their survivial during the GFC.

I'm not quite sure what to make of this hedging. I'm also a little unsure on why they needed the cash now. Aren't they sitting on around $30m anyway? Why the need for another $14m right now?

Anyway, at least they've locked in some high silver prices and now have access to a bit more cash.