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OceanaGold closes out all hedge facilities
(The Philippine Star) Updated May 16, 2010 12:00 AM
MANILA, Philippines - Australian miner OceanaGold Corp. has successfully closed out all its remaining hedge facilities thus becoming a 100- percent unhedged gold producer, chief executive officerPaul Bibby said.
“The hedgebook close-out means that OceanaGold will now sell all of its gold production into the spot market for the remainder of 2010 resulting in cash operating margins increasing by approximately 200 percent compared to recent margins,” he said.
(The Philippine Star) Updated May 16, 2010 12:00 AM
MANILA, Philippines - Australian miner OceanaGold Corp. has successfully closed out all its remaining hedge facilities thus becoming a 100- percent unhedged gold producer, chief executive officerPaul Bibby said.
“The hedgebook close-out means that OceanaGold will now sell all of its gold production into the spot market for the remainder of 2010 resulting in cash operating margins increasing by approximately 200 percent compared to recent margins,” he said.
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