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Beacon strikes gold deal

13th January 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Beacon Minerals has forward sold 6 000 oz of gold, which will be delivered in monthly instalments between February and April this year.

The forward sale was done at an average net price of A$2 729/oz, which was up from the A$2 634/oz average gold price achieved in the December quarter, and up from the A$2 579/oz gold sales price achieved over the last six months of 2022.

Beacon told shareholders on Friday that entering into the forward contract has secured a portion of the company’s monthly gold sales over the next three months at the elevated gold price, while still leaving a portion of the company’s gold to be sold at the spot rate.

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