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Catalyst Metals Enters Gold Forward Contracts for 30,000 Ounces at AU$6,075 Per Ounce

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Catalyst Metals (ASX:CYL) entered into gold forward contracts for 30,000 ounces of gold at a fixed price of AU$6,075 per ounce, with deliveries spread evenly over 15 months at 2,000 ounces per month starting in August, representing 2% of reserves or one quarter of production, according to a Thursday Australian bourse filing.

The company said the recent gold price volatility can be destabilizing, and it will, from time to time, enter into similar short-term price protection contracts to manage its revenue and overall operational stability.

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