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Westgold Resources Provides Gold Hedging Update

18 Feb 2020  |  11:41:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Gold Hedging Update

Westgold Resources advised that it used the strength in the Australian gold price to extend and restructure its hedge book with its banking counterparty, Citibank, adding a further 60,000oz at spot prices above A$2350/oz. The new hedge structure brings forward revenue in the ensuing year, resulting in the received price for all hedge ounce deliveries being $118.50/oz higher and hence increasing revenue. The Company seeks to protect the price it receives for up to 50% of its gold sales whilst keeping the term under 2 years forward.

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