Further to the ASX release dated 26 May 2021 (entitled 'Forward Gold Sales and Exploration Update') Beacon Minerals Limited (ASX: BCN) (Beacon or Company) would like to provide the below supplementary information.
The Company previously advised that it had entered into a 9,000 ounce forward gold contract to be delivered in monthly instalments from June 2021 to November 2021 (Forward Sale Facility Agreement).
The forward price ranges from A$2,426 to A$2,407 per ounce. The key terms of the Forward Sale Facility Agreement are as follows: The Forward Sale Facility Agreement was entered into between the Company and MKS (Switzerland) S.A., a corporation with headquarters in Switzerland (Forward Facility). The Forward Facility is effective on and from 19 April 2021 expires on 31 December 2021, the Company entered into the Forward Facility on 25 May 2021. The nature of the products being supplied pursuant to the Forward Facility is gold.
The purpose of the Forward Facility is hedging Beacon's gold price exposure in relation to the Jaurdi Gold Project and to provide a secure cash margin on a portion of Beacon's future gold production.
Authorised for release by the Board of Beacon Minerals Limited.
Contact:
Graham McGarry
Tel: 0459 240 379
Disclaimer
This ASX announcement (Announcement) has been prepared by Beacon Minerals Limited ('Beacon' or 'the Company'). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this Announcement.
This Announcement contains summary information about Beacon, its subsidiaries and their activities which is current as at the date of this Announcement.
The information in this Announcement is of a general nature and does notpurport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Beacon. By its very nature exploration for minerals is a high risk business and is not suitable for certain investors. Beacon's securities are speculative. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to Beacon and of a general nature which may affect the future operating and financial performance of Beacon and the value of an investment in Beacon including but not limited to economic conditions, stock market fluctuations, gold price movements, regional infrastructure constraints, timing of approvals from relevant authorities, regulatory risks, operational risks and reliance on key personnel.
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