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Westgold Resources Provides Gold Hedging Update

13 Oct 2017  |  14:54:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Gold Hedging Update

Westgold Resources advised that it has used the current strength in the USD gold price and pull back in the AUD:USD exchange rate to add 40,000 oz to its short-term hedge book. The Company has added 5,000 oz per month for the period November 2107 to June 2018 to its hedge book position at price of A$1,669.30/oz. The additional hedges provide revenue protection for its expanding gold output. The Company's hedge book stands at 123,750 oz at an average of A$1,649.50/oz with spread to September 2018. In addition, the Company's gold prepay arrangement is currently 22,500 oz, amortising at 1,250 oz per month until mid March 2019 at A$1,606.70/oz. All gold hedging and gold pre-pay arrangements are with Citibank as the counterparty.

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