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OZ income up on higher gold production

WHILE OZ Mineral’s gold hedging is out of the money by an estimated A$91 million, the miner’s CFO Warwick Ranson flatly rejected any move to close it out this morning, saying the cost to buy it out doesn’t make sense when compared to running it down.

Haydn Black
OZ prioritised gold production in the half

OZ prioritised gold production in the half

"We'll run that through to maturity. The hedgebook is short-priced, runs out next year, and is less than 45% of our gold production," Ranson said.   At the end of June, OZ had contracts for 110,901...

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