“It is pleasing to see that, despite more than one million ounces of gold being produced
in the last four years, there has been no material change in our total ore reserves. This
demonstrates the annual resource to reserve replacement keeping pace with mine
depletion. Significantly only 29% of the overall resource base is in reserves at this point
in time.
Westgold retains an un-paralleled leverage to the gold price with less than 7.44% of its
overall gold reserves hedged at a time of record gold prices.”
Thats the crux of it, outstanding.
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