RE:RE:RE:RE:RE:RE:TV's SPAgreed. Each month, Trevali has locked in 25% of its estimated production at $1.10 / $1.12 and also has downward price protection with the puts at$1.04 (at $0.03 per pound cost!!!) up to March 2021. The Q3 presentation has a nice detailed calendar showing how much production is hedged or protected by puts. The management statement that 50% of the production is hedged is misleading to say the least. Management cannot sell the same zinc using the hedges and then the puts - it is either one or the other or the matket price.