Victoria Gold Corp. said May 14 that it signed a gold hedging deal with Macquarie Bank Ltd. in a bid to mitigate the risks associated with developing its Eagle gold project in Canada's Yukon Territory.
Under the program, 100,000 ounces of put options were bought at a strike price of C$1,500/oz, while 100,000 ounces of call options were sold at a strike price of C$1,936/oz. The gold includes 40,000 ounces in 2020 and 60,000 ounces in 2021.
The Eagle gold project forms part of the company's Dublin Gulch property.
In April, Victoria Gold executed definitive agreements with several parties to secure about a C$505 million construction financing package for the Eagle project.
