St Barbara has hedged 25,000 ounces of gold to be sold between July 2018 and December 2019 at a forward price of A$1750/oz.
The gold, to be delivered monthly from the Simberi mine, is the last tranche of the company’s hedging program and is aimed at delivering reliable cash margin on a portion of Simberi’s anticipated future gold production.
In 2017-18 Simberi is expected to produce between 115,000-125,000oz of gold at an all-in sustaining cost of between $1130-$1230/oz.
It has placed hedges for a total of 186,000oz from this month at prices ranging from $1725-1750/oz.
Recapitalised copper miner Aeris Resources has also locked in further hedging with a swap contract of 12,000 tonnes at an average $8670/t with scheduled deliveries of 1000t per mo...