Beacon Minerals Limited (ASX: BCN) has signed a significant forward gold contract for 14,000 ounces at a price of AU$3,080 per ounce, with deliveries scheduled in monthly instalments from November 2023 to June 2024. The average realized price under this forward contract surpasses AU$3,112 per ounce, marking a substantial increase from the average gold price of AU$2,924 for the quarter ending on September 30, 2023, and an even more substantial increase from the AU$2,703 average price for the twelve months ending on June 30, 2023.
This development is a positive sign for Beacon Minerals, as it secures a favourable price for the majority of its budgeted gold production from November 2023 to June 2024. Additionally, the company provided a full-year production guidance of 27,000 to 29,000 ounces for 2023/2024. The decision to enter this forward contract is seen as a prudent move to secure gold prices, especially during the early production phase from MacPhersons, which is expected to come online in late December or early January.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
