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New Gold hedges everything, for now

New Gold has announced it has put in place a price hedge for 270,000 ounces, potentially all of its production, for the remainder of 2016. By purchasing a series of put and call options, the company has created a price floor of US$1,200 per ounce and a ceiling of $1,400/oz.

Mining Journal
New Gold is spending $500 million on Rainy River this year

New Gold is spending $500 million on Rainy River this year

The contracts will cover 30,000oz per month for the next nine months. The gold price has gained by about $200/oz so far this year, having ended 2015 at $1,060/oz. New Gold said the decision was made...

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