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Westgold revises hedge book

8th January 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed gold miner Westgold Resources has made use of the recent strength in the Australian dollar gold price, revising its hedge book to 150 000 oz.

The revised hedge book is structured as a fixed-forward delivery of 10 000 oz a month, at a price of A$1 776.10/oz, over a period of 15 months.

Additionally, Westgold also has a gold pre-pay obligation to repay 22 591 oz over the next 18 months at around 1 250 oz a month. The company has already received funds for these sales, and will start gold delivery this month.

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