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.