Hedging of 2 years of gold production at basically current spot gold price is a bit risky in my view.
Imagine this scenario: gold price went to AUD$2500 per ounce, and production falls short.
In this scenario, CMM would have to buy high (at spot on market) and sell low (at hedging price).
Ann: Capricorn Completes Gold Hedging for Karlawinda Gold Project, page-12
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