Copper Hegded at $4.23 for 2012Copper derivative contracts to provide price protection on the 2011, 2012, 2013 and 2014 projected payable copper production.
Approximately 50% of the Company?s expected copper production for the second half of 2011 and year 2012 has been hedged.
Year of projected payable copper production | Volume Hedged (lbs) | Average fixed price ($/lb) |
Balance of 2011 | 11,629,319 | $4.31 |
Year 2012 | 22,725,182 | $4.23 |
Year 2013 | 6,693,226 | $3.94 |
Year 2014 | 7,195,880 | $3.73 |