$100m spent on hedges
April 6th, 2010
Filed under: Operator - OceanaGold
Mining company OceanaGold has bought out more than NZ$100 million in hedging contracts,allowing it to take advantage of the high gold spot price.
The company, which owns mines in Otago, the West Coast, and the Philippines, raised C$85m (NZ$118.19m) through a new share issue last month, more than enough to fund the buyout of 75,000 forward contracts and 78,000 call options.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.