RE:RE:RE:RE:Hedging in a zinc bull market is bone headed kramaswamy, I guess most people cannot distinguish between bull markets and bear markets. When it comes to metals, I can usually identify the trends. I just have a knack for it. I am not always right by any means, and I cannot identify exact tops or exact bottoms.
In early 2019, I made some money on Trevali with the zinc rally.
When I issued the "plan to save the company", I knew that zinc was headed below $1. People can blame COVID, but the trend was already there.
I did not buy the stock again until Aug 2020 when I was convinced that the zinc bear market had ended.
The recent pull back looks like a typical bull market correction to me. Sure I could be wrong, but I invest based on the odds.
As for hedging, it is just not needed right now. The treatment cost is about to drop by $.10. I supported hedging until the new treatment cost is set. I also support hedging on Caribou since that mine is a high cost nightmare. I just wish they had waited until zinc is closer to $1.50 to restart Caribou.