Aeris Resources Ltd (ASX:AIS) has entered into additional unsecured Australian dollar gold hedges with Australia and New Zealand Banking Group (ASX:ANZ) Limited.
The company has hedged an additional 26,500 ounces with maturities between March 2022 and June 2023 (1,750 ounces per month from March to December 2022 and 1,500 ounces per month from January to June 2023) at an average price of A$2,642.44 per ounce.
“Over the next 18 months we are committing significant funds to mine life extension and exploration projects at both Tritton and Cracow as we secure the long-term future of Aeris,” executive chairman Andre Labuschagne said.
“The recent rise in the A$ gold price we saw as an opportunity to lock-in a portion of Cracow’s gold production out to the end of FY2023 at what we believe are attractive prices.
"This will help to underpin part of our revenue base during what will be an important period for the company.
“Cracow gold production is now hedged approximately 70% to the end of calendar 2022 and 30% for the first half of calendar 2023.”