Sherritt International Corp T.S

I know we don’t normally hedge...

[rkhosla]

But perhaps they should consider buying a few more puts and establish a floor of $8 for our Ni sales....  Ni is going up for sure, but doing so so fast might mean volitility amd declines first.  That was their logic with their previous hedge - they saw Ni rise so dramatically from a $5 handle into the $7's at the end of the summer/early fall that they wanted some insurance.  I'm all for upside exposure but another $10mil spent on some more insurance at a profitable $8 not a horrible idea

[thenorthvanman]

I wouldn't assume the hedge would be the same price.

[rkhosla]

Correct - just the concept

[thenorthvanman]

Fair enough. I think I've made no secret of where I think 10 mil extra dollars should be spent