StockMarketWire.com - Resolute Mining said it had taken advantage of higher gold prices to extend its hedging position.

The company said it forward sold an additional 37,200 ounces of gold at an average price of $1,562 per ounce.

The gold was sold in scheduled monthly deliveries of 1,200 ounces between July 2020 and December 2020, and scheduled monthly deliveries of 5,000 ounces between January 2021 and June 2021.

'Resolute has taken advantage of market volatility and current gold price strength to incrementally extend the company's US dollar denominated gold hedge position,' the company said.

'This hedging secures price certainty for a portion of the US dollar revenues generated from Resolute's African gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal.'


At 8:22am: [LON:RSG] share price was -1.67p at 63.24p



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