PERTH (miningweekly.com) – Gold miner St Barbara has entered into forward gold contracts for an additional 50 000 oz of gold expected to be produced from its Simberi project, in Papua New Guinea, during the 2018 financial year.
The gold will be delivered in monthly instalments between July 2017 and June 2018 at a forward price of A$1 730/oz.
St Barbara has hedged a total of 100 000 oz of Simberi’s anticipated gold production for 2018.
For the 2017 financial year, around 9 000 oz of forward gold contracts remain to be delivered in monthly instalments by the end of June this year, at a price of $1 338/oz.