It is my understanding that half of their 70% of production is to be hedged for three years to guarantee payback, the other half of the 70% they dont have to hedge, and of course the 30% is the coreans portion so it does not come into play.

They are waiting for as long as possible to hedge since copper is going up daily. Were at $4.10 now, something that was not thought possible six months ago when this started. This is a fantastic situation to be in.

Total diluted share count is about 360 million. A bit more dilution, but then again a higher copper price balances each other out.

There is no financing that has not been ironed out. They have more money than they need to get this built.