There are few details about the hedging program which was announced on 16/10/13. I am not sure whether it involves forward sales or some sort of put option. However I am surprised that they have suffered such high losses from it. Perhaps a more prudent approach with the benefit of hindsight would have been to begin operations following the wet season. Are any heads going to roll from this debacle??
There are few details about the hedging program which was...
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