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PRESS RELEASE
28 AUGUST 2015
GOLD HEDGE PROGRAM
Metals X Limited (Metals X) is pleased to announce it has entered into a gold hedging program comprising 245,000 ounces of gold with scheduled deliveries out to September 2018. The flat forward price achieved is A$1,631.23 per ounce.
The implementation of a modest hedging program takes advantage of today's strong AUD gold price and secures a portion of cash flow. The hedged amount represents approximately 21% of the projected production guidance out to 2018.
Metals X's Executive Director & CEO, Peter Cook said:
"Metals X is very pleased by the pricing that was achieved upon execution of the hedging facility. Hedging a component of our future gold production provides various benefits, including cash flow certainty, and enables Metals X to continue to actively invest in further growth".
ASX Code: MLX
OTCQX Code: MLXEF
Level 3, 18-32 Parliament Place
West Perth WA 6005
Australia
[email protected] www.metalsx.com.au
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Metals X Ltd
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EXPLORATION STAGE |
CODE : MLX.AX |
ISIN : AU000000MLX7 |
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Metals X is a tin development stage company based in Australia. Its main exploration property is RENISON in Tasmania. Metals X is listed in Australia, in Germany and in United States of America. Its market capitalisation is AU$ 249.8 millions as of today (US$ 168.1 millions, € 151.5 millions). Its stock quote reached its highest recent level on November 28, 2014 at AU$ 2.76, and its lowest recent point on March 20, 2020 at AU$ 0.05. Metals X has 609 340 032 shares outstanding. |