PERTH (miningweekly.com) – ASX-listed Westgold Resources has added a further A$20.85-million to its working capital, after forward selling more gold with Citibank.
The company on Tuesday reported that some 12 500 oz had been forward sold at an average price of A$1 668/oz, with 1 250 oz of gold to be delivered each month between September 2019 and June 2020.
Westgold’s hedgebook currently contained 80 500 oz, at a forward sales price of A$1 740/oz, until August 2019, with a further 22 591 oz of gold prepaid, at an average received price of A$1 640.78/oz, repayable at 1 250 oz a month, from January next year.