11 December 2014 ASX Release
Unity Mining Limited
ABN 61 005 674 073
Corporate Details:
ASX Code: UML
Issued capital:
1133M ord. shares
21.7M unlisted Perf. Rights
Substantial Shareholders:
Moly Mines Ltd 196.5M (17.3%) LionGold Corp 117.1M (10.3%)
Directors:
Non-Executive Chairman: Clive Jones
Managing Director: Andrew McIlwain
Non-Executive Directors: Ronnie Beevor
Gary Davison
Contact Details:
Unity Mining Limited
Level 10
350 Collins St Melbourne Victoria 3000
Australia
Tel: +61 (0)3 8622 2300
Fax: +61 (0)3 8622 2399
Email:
[email protected]
Website:
www.unitymining.com.au
Unity hedges Henty gold production
Unity is pleased to announce that it has taken advantage of recent volatility in the A$ gold price to enter into gold hedging contracts on favourable terms. 15,000 oz of gold put options have been acquired to hedge approximately 70% of Henty's forecast gold production during January to June 2015. The puts provide the company with the right, but not the obligation, to sell 2500 oz of gold per month over that period at a price of A$1445/oz, while still retaining full exposure to increases in the gold price above that level.
Henty has continued to outperform against production and cost targets during October and November 2014. A full update on the company's activities will be provided in the quarterly report in January 2015.