Westgold Resources
(ASX:WGX) has announced the addition of a further 30,000 ounces to its gold hedge book at a fixed forward rate of A$1,863.35 per ounce.
The company's forward hedge book now totals 160,000 ounces at an average price of A$1,792.46 per ounce.
Westgold says it seeks to protect the price it receives for up to 50 per cent of its gold sales in the short-term, removing the risk of volatility in the US gold price.
Delivery is scheduled for April, May and June of 2019.
Shares in Westgold Resources
(ASX:WGC) are trading 1.83 per cent lower at $1.07.
