Capricorn Metals Ltd (AU:CMM) has released an update.
Capricorn Metals Ltd has strategically reduced its gold hedge book by 52,000 ounces, capitalizing on the recent dip in gold prices to increase potential revenue from future gold price rises. The company has no gold forward sale obligations until the end of 2025 and has also purchased gold put options to limit downside risk, ensuring it benefits if gold prices climb higher than A$3,432 per ounce. This move follows a previous successful hedging strategy, which boosted Capricorn’s revenue by approximately $13 million in FY24.
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