Not a bad little earner for those in favour of hedging, best of...

Not a bad little earner for those in favour of hedging, best of both worlds $1447 or a better price on the day if it happens.

FORWARD GOLD SALES – LORENA JV GOLD PROJECT
The Board of BCD Resources NL (BCD) is pleased to advise that it has hedged
6,000 ounces of gold in forward contracts at a price of AU$1447.50 per ounce.
These forward sales represent approximately 40% of BCD’s expected production
share for the first twelve months of the Lorena JV Project.
The spot defered forward sales contracts, not only provide BCD with income
certainty, but also with the flexability to take advantage of higher availabe gold prices
at the time of physical delivery to the buyer.
The BCD Board is delighted with the price acheived for this hedging, and notes that it
is above the average mean AUD gold price for the last 3 years.
BCD expects that the Lorena Gold project will commence wet commissioning in late
February 2015 with the first concentrate being sent to the Beaconsfield facility in
March 2015.
For further information, please contact BCD on (03) 6383 6500 or by email
[email protected]