Silver Lake Resources Ltd (“Silver Lake”) is pleased to advise that it has entered into a forward gold hedging programme for 50,000 ounces spread evenly from April 2014 to March 2015.
At an average forward price of A$1,536 oz, the programme locks in a favourable margin on low grade (~1.2 g/t Au) surface stockpiles that are expected to be processed over the hedge period.
The hedge programme equates to approximately 30% of the expected production over the hedge period. The hedge programme is with the Commonwealth
SLR Price at posting:
46.0¢ Sentiment: LT Buy Disclosure: Held