https://www.miningweekly.com

Westgold adds 40 000 oz to hedgebook

13th October 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Westgold Resources has added a further 40 000 oz of gold to its short-term hedge book on order to exploit the current strength of the US gold price.

The company on Friday said that it has added 5 000 oz a month between November and June to its hedge book position, at a price of A$1 669/oz.

The company’s hedge book currently stood at 123 750 oz, at an average of A$1 649.50/oz until September 2018. Westgold’s gold prepay arrangement also accounts for 22 500 oz, amortising at 1 250 oz a month until March 2019, at A$1 606.70/oz.

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Edited by Creamer Media Reporter

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