CAPITAL MARKETS

Placer trims its hedge book

PLACER Dome is reducing its hedging book by around 1.7 million ounces, or 20%, with committed ounces expected to total 6.8Moz by the end of the year.

Michael Quinn
Placer trims its hedge book

The company said the recent volatility in the gold price "afforded" it the opportunity to reduce its call commitments for 2003 and 2004 at an anticipated net cost of US$2 per ounce, or around US$2 million....

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