Reuters: Barrick Closes Hedge Book Early
From the Reuters piece:
“As of today, we are a fully unhedged gold producer,” Barrick Chief Executive Aaron Regent said at an investment conference in New York.
The elimination of hedges comes earlier than the company had planned. Barrick said in September that it would get rid of all its hedges within 12 months, but sped up the pace due to the continued rise in gold prices.
“Our positive view on the gold price led us to accelerate the elimination of these contracts ahead of the schedule we had established,” Regent said in a statement.
