Aurelia Metals Ltd Gold Hedging - 10,500 oz at A$1591/oz
13.02.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Aurelia Metals Ltd. (ASX:AMI) (Aurelia or Company) advises it has forward sold 10,500 ounces of gold at an average price of A$1591/ounce, with scheduled deliveries commencing at the end of February 2015 through to September 2015. There is no collateral or margin calls associated with the forward sales.These short dated gold forward sales complement Aurelia's existing gold put option cover to provide a total hedged position of 36,945 oz at an average minimum price of A$1526/oz to September 2016.
The gold forwards and put options provide Aurelia with price certainty for a specific volume of future gold production during the early production phase of the Hera gold and base metal mine. This provides greater cash flow certainty and mitigates a signficant portion of gold price volatility during this period.
The Company maintains exposure to higher gold prices through holding approximately 70% of the cover in the form of uncommitted gold put options.
About Aurelia Metals Ltd:
Aurelia Metals Ltd. (ASX:AMI) is focused on the development and exploration of the high grade Hera-Nymagee Project in the Cobar district of NSW.
Aurelia is actively drilling the evolving copper deposit at Nymagee with the potential that the Nymagee mineralisation may evolve into another 'Cobar Giant' similar to the world class CSA copper deposit located approximately 100km north-west along strike.
Aurelia also remains active in the exploration for copper, gold and tin on a number of tenements in the Lachlan Fold Belt of NSW.
Contact:
Aurelia Metals Ltd.
Tim Churcher, Chief Financial Officer
+61 2 6363 5200