Ann: A$14 Million Silver Hedge Financing , page-6

They have only forward sold 60% expected silver production

The previous hedges saved JML, otherwise there would be no JML today.

Currently JML is debt free. I'm looking at this silver forward sale as a positive indicator that zinc and copper sales will be ramped up more than we may expect, probably more silver as well.

All up the forward sales seems a responsible (read non speculative) course of action to enable growth.