Capricorn Metals Ltd (ASX:CMM) (Capricorn or the Company) is...

Capricorn Metals Ltd (ASX:CMM) (Capricorn or the Company) is pleased
to announce the completion overnight of 200,000 ounces of gold hedging
with a 31 December 2019 maturity and a price of A$2,249 per ounce.
After securing commitments for a $65 million share placement yesterday,
Capricorn was able to expedite completion of security and related
documentation with Macquarie Bank Limited (Macquarie) to allow
execution of the hedge. It is intended the security documentation will be
incorporated in the final debt and hedging facility agreements expected to
be completed within the next 3 months.
The hedge has a maturity of 31 December 2019, by which time it is
expected that the previously lapsed debt facility will be available for
drawdown and the gold hedging will be rolled into a delivery programme
matching debt quantum and amortisation and life of mine production plans.
Hedging of 200,000 ounces represents coverage of approximately 2 years
of anticipated gold production out of a current mine life of 8.5 years on the
current Ore Reserve of 892,000 ounces1 of gold (Ore Reserve estimated
using an A$1,600/oz gold price). Hardrock hedging and financing already done approximately $90 mill in the bank debt for equity already done