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Short term US$ gold price protection

St Barbara Limited has entered into an additional 50,000 ounces of forward gold contracts to be delivered in monthly instalments from January to December 2020 at a forward price of US$1,300 per ounce. This completes the current planned hedge program for the period to December 2020 in relation to anticipated Simberi production.

 

The forward contracts are notionally assigned to secure a reliable cash margin on a portion of Simberi’s anticipated future gold production in FY20 and FY21. This tranche of forward contracts is denominated in US$ to protect a portion of forecast expenditure exposed to US$ (either directly in US$ or indirectly in PNG Kina).

 

As previously announced, the Simberi Life of Mine plan extends to FY211, with mining continuing throughout FY19 and FY20. Low-grade stockpiles accumulated over FY18 to FY20 will be processed in FY21.

 

Summary of hedging in place at the date of this release:

FY19: 52,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2019 at A$1,750 per ounce (remaining FY19 component of initial 100,000 ounce hedges announced in February and March 2018).

 

FY20: 98,000 ounces, comprising:

A: 50,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2019 at A$1,750 per ounce (announced in February and March 2018).

B: 24,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2020 at A$1,809 per ounce (announced 26 October 2018).

C: 24,000 ounces of forward gold contracts to be delivered in monthly instalments between January and June 2020 at US$1,300 per ounce (announced 10 December 2018).

 

FY21: 52,000 ounces, comprising:

A: 26,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2020 at A$1,809 per ounce (announced 26 October 2018).

B: 26,000 ounces of forward gold contracts to be delivered in monthly instalments between July and December 2020 at US$1,300 per ounce (10 December 2018).

 

 

 

  • Short term US$ gold price protection