Laboring the point, here are the forward curve rough estimates...

Laboring the point, here are the forward curve rough estimates that CCU could contract to deliver into:

2014: US$21.5
2015: US$21.6
2016: US$21.8
2017: US$22.1

Also consider hedging AUD and (dirty hedge) fuel to further reduce risk/maximize cashflow certainty.

CBA could make a tidy profit from these hedges - rather than cutting and running. Perhaps its for Sprott to take this, any financier coming in now deserves their pound of flesh, but as I wishfully say, hopefully still something left for the little aussie battler shareholders (and that very quiet large Indonesian shareholder).