I have owned this stock in the past and track it. The collar appears foolish. Barrack Gold and other companies did it with gold, and lost out during the biggest gold price rally ever. Management should focus on lowering costs of extraction, and increasing margins. They aren't responsible for supplying bond-like returns to shareholders, most of whom are long this company as a proxy for being long copper. The company hedged through the END of 2012, which is a LOOONGGG time away. $5.07 isn't that inconceivable.
Does anybody know what would happen to the collar under a buyout? Would/could the purchaser just BTC the calls and STC the puts??