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Westgold Resources Upgrades Hedge Book

08 Jan 2019  |  09:34:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Westgold Upgrades Hedge Book

Westgold Resources advised that it has used the recent strength in Australian Dollar gold price to expand and upgrade its gold hedge book. The revised hedge book totals 150,000oz and is structured as a fixed forward delivery of 10,000oz per month at a price of $1,776.10/oz for fifteen months. In addition, the group has a gold pre-pay obligation to repay 22,591oz over the next 18 months at 1,250oz per month. It has received the funds for these sales and will commence delivering the gold in January 2019.

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