RE:RE:RE:TREVALI EXTENDS ZINC HEDGING PROGRAM OUT TO END OF 2021I doubt it would be enough to restart Caribou.
When they closed it, their target price for Caribou was $1.25/lb zinc. The current hedge they signed is at $1.23/lb, and it's only for 60m lbs.
My guess on why it hasn't affected share price is because of the quantity - at only 60m lbs, it won't really be enough to protect them if spot prices actually fall. Based off Q3, they can be reasonably expected to produce 300m lbs / year. If 60M is hedged, and, say, spot price were to fall to $1, that would translate into an effective price of $1.05.
Still - it's good news for sure, and is one more checkmark in the column of "good things". Time is our friend right now, and the more of these that we get, the more likely we'll see share price go up.