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Shanta Gold unhedged after settling gold forward sale commitments
StockMarketWire.com
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East Africa-focused gold producer Shanta Gold said it had settled all outstanding gold forward sale commitments, leaving the company unhedged.
Shanta said that as of early 2020 it had sold forward 40,000 ounces to January 2021 at an average price of $1,244 an ounce.
The forward sales were a condition of its senior lending facility.
'With all forward gold sales commitments settled, Shanta will now receive the full benefit of today's strong gold price environment,' chief executive Eric Zurrin said.
'As a result, we look forward to significantly improved free cash generation heading into 2021.'
At 9:09am: (LON:SHG) Shanta Gold Ltd share price was 0p at 15.75p
Story provided by StockMarketWire.com
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