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Name | Symbol | Market | Type |
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LINE Corporation | NYSE:LN | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 51.98 | 0 | 01:00:00 |
The hedging contract has a cap of $1,940 and a collar of $1,825, meaning that, for the 4,000 ounces of gold per month for the period, Caledonia will receive an effective gold price per ounce of not less than $1,825 or greater than $1,940 and will receive an effective spot gold price between these two levels.
Commenting on the announcement, Caledonia’s Chief Executive Officer Steve Curtis said:
“Hedging gold production is not an easy decision for a gold miner as investors usually wish to maximise exposure to gold price upside. However, given the fact that our capital expenditure phasing is heavily weighted towards the first half of 2022 as we ramp up gold production, the board considered it prudent to take advantage of the current strong gold price to protect the balance sheet during this phase of higher capital investment with a five-month hedging arrangement over a portion of our production.”
Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall | Tel: +44 1534 679 802Tel: +44 7817 841793 |
WH IrelandAdrian Hadden/ Andrew De Andrade | Tel: +44 20 7220 1751 |
Blytheweigh Financial PRTim Blythe/Megan Ray | Tel: +44 207 138 3204 |
3PPBPatrick ChidleyPaul Durham | Tel: +1 917 991 7701Tel: +1 203 940 2538 |
Curate Public Relations (Zimbabwe)Debra Tatenda | Tel: +263 77802131 |
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014 (“MAR”) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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