Partial closure shouldn't undermine OceanaGold

Sun, 12 Apr 2020

OceanaGold's hedging programme or its A$78.5 million forward sale agreement won't be affected by the partial closure of its Macraes and Waihi mining operations under New Zealand's covid-19 shutdown rules.The company’s hedging programme includes New Zealand dollar hedges capped at NZ$2,100 an ounce for this year’s gold production at Macraes, covering 118,800 ounces or 30 percent of the Otago mine’s expected annual production, it said in a market update on Thursday.In late February, the Melbourne-based company said it had entered into a pre-payme...

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