RE:Hedges tenacious1, thank you for pointing out how disastrous the hedging has been for Trevali. So much investor money was flushed down the toilet with the terrible hedging in 2021. Now I realize they needed to hedge to reopen Caribou, but if they had just waited a couple of quarters, they could have hedged Caribou at $1.50 instead of $1.25. That would have made a huge difference to profits. With the current hedge, Caribou might not even be profitable right now. We will not know until the annual report comes out in 4 months.
As for hedging reducing risk, Trevali's hedging only served to increase risk. They squandered money that they desperately needed on hedges. That money could have been used to pay down debt and build cash for RP2.0.
I guaranteed everyone on this board that zinc would hit $1.50 in 2021. I said "mark my word." My word is as solid as a block of zinc.