Wiluna Mining Corporation Ltd Stock Market Press Releases and Company Profile
Hedging Transaction
Hedging Transaction

Perth, Dec 2, 2016 AEST (ABN Newswire) - The Board of Blackham Resources Limited (googlechartASX:BLK) ('Blackham' or 'the Company') is pleased to announce that it has realised $6.3 million in cash following the purchase of physical gold ounces at the current reduced spot price to close out a total of 41,250 ounces of forward gold sales contracts at an average price of $1,762/oz.

The bulk of these forwards were originally entered into in September 2016 at a gold price of $1,774/oz (refer ASX announcement 21st September 2016). Given the recent volatility in the gold price, the Board saw an opportunity to crystallise a significant profit generated in a short period of time which will further strengthen working capital.

The remaining gold forwards under this facility stand at 12,795 ounces at a price of $1701/oz.


About Wiluna Mining Corporation Ltd

Wiluna Mining Corporation LtdWiluna Mining Corporation (ASX:WMC) (OTCMKTS:WMXCF)  is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.

https://twitter.com/wilunamining/ https://www.facebook.com/wilunamining/ https://www.linkedin.com/company/wilunamining abnnewswire.com 


Contact

Bryan Dixon
Managing Director
Blackham Resources
T: +61-8-9322-6418
F: +61-8-9322-6398
E: info@blackhamresources.com.au
www.blackhamresources.com.au

David Tasker / Tony Dawe
Professional Public Relations
T: +61-8-9388-0944



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 5) (Last 30 Days: 21) (Since Published: 3115)