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St Barbara Announces Short Term Gold Price Protection to December 2020

10 Dec 2018  |  13:52:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Short term gold price protection to December 2020

St Barbara announced that it has entered into an additional 50,000oz of forward gold contracts to be delivered in monthly instalments from January to December 2020 at a forward price of US$1,300 per ounce. This completes the current planned hedge program for the period to December 2020 in relation to anticipated Simberi production. The forward contracts are notionally assigned to secure a reliable cash margin on a portion of Simberi's anticipated future gold production in FY20 and FY21. This tranche of forward contracts is denominated in US$ to protect a portion of forecast expenditure exposed to US$. As previously announced, the Simberi Life of Mine plan extends to FY211, with mining continuing throughout FY19 and FY20.

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