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BRIEF-Teranga Gold hedges about 50 pct of Sabodala production at $1,336 per ounce through 2018

Published 2017-09-11, 06:46 a/m
© Reuters. BRIEF-Teranga Gold hedges about 50 pct of Sabodala production at $1,336 per ounce through 2018
TGZ
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Sept 11 (Reuters) - Teranga Gold Corp TGZ.TO :

* Teranga Gold hedges ~50 pct of Sabodala production at $1,336 per ounce through 2018, providing greater cash flow certainty during banfora project construction

* Teranga Gold-entered forward gold sales contracts with macquarie bank for 131,000 gold ounces starting Oct 1, through Dec 31, 2018, at $1,336 per ounce

* Teranga Gold Corp - forward sales contracts represent approximately 50 pct of production expected over five quarters to end of 2018

* Teranga Gold - as part of forward sales program, 25,000 ounces are due during q4 of 2017, with 26,500 ounces due in each of four quarters of 2018

* Teranga-Sees production of up to 111,000 ounces in h2 2017 and 213,000 ounces in 2018,as outlined in updated technical report for sabodala operation

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