Westgold Resources adds 30,000 ounces to its gold hedge book

Company News

by Anna Napoli

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.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.