Buenaventura knocks out more hedges (June 11, 2007)

Minas Buenaventura (BVN-N) has bought out its 2009 gold hedging commitments, removing another 248,000 oz. from its hedge book.

The company will pay US$87 million to clear off those contracts, which will leave it with 922,000 oz. committed between 2010 and 2012. The ounces are locked in at prices between US$289.76 and US$403.40 per oz. over those three years.

Buenaventura has removed 971,000 oz. from its hedge book in 2007. It knocked out 240,000 oz. of hedge contracts for delivery in 2007 and 2008 earlier in May, and in March, it paid US$145 million to cancel contracts covering 483,000 oz.

Print

Be the first to comment on "Buenaventura knocks out more hedges (June 11, 2007)"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close