Glencore to make $50M from Caribou?It's interesting to note that with zinc at $1.65 Glencore stands to make close to $50M from Caribou this year while Trevali stands to make $3M using a $1.20 AISC. Glencore is currently making .40 per pound from the hedges or about $25M for the year. They are also receiving .35 for treatment charges($210). Hedging at Caribou cost Trevali $2M in quarter 3 and $3M in quarter 4. With zinc at $1.65 Glencore receives .75 a pound and Trevali receives .90. Only the byproduct credits keep Trevali from losing money at Caribou. With zinc at $1.65 hedging will cost Trevali about $25M in 2022. This $25M could have gone a long way toward funding RP2. It is imperative that Trevali find a way to keep Caribou going in 2023 with more favorable terms. If zinc remains high Caribou could be a big cash producer in 2023. TV is currently generating about $20M per quarter in profits. That number would be $26M without the hedges. If they sustain that rate of profitability into 2023 then funding RP2 should be a piece of cake.