Mining Briefs: Resolute, New Century and more

IN TODAY’S Mining Briefs: Resolute hedges more; New Century vessel arrives; Metro milestone; Hastings grows Yangibana; and Babylon’s dewatering deal.

Mining Briefs: Resolute, New Century and more Mining Briefs: Resolute, New Century and more Mining Briefs: Resolute, New Century and more Mining Briefs: Resolute, New Century and more Mining Briefs: Resolute, New Century and more

Metro has now shipped 1.2Mt since mining began.

Resolute has elected to hedge a further 35,000 ounces at A$1728/oz, a premium to its budgeted gold price for its Ravenswood gold mine in Queensland of $1700/oz, taking its outstanding hedgebook to around 85,000oz due for delivery over the next 15 months - less than 20% of planned production.
 
Resolute has taken advantage of strength in the Australian dollar gold price to extend the hedge position to support the Ravenswood expansion project and protect returns when the operation transitions from underground mining at Mt Wright back to large scale open pit mining for a planned 14 years.
 
The gold will be delivered between June-December 2019 in monthly shipments of 5000oz.
 

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