PERTH, WESTERN AUSTRALIA--(Marketwired - Dec. 5, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (TSX:LSA)(ASX:LSA) announces that it has purchased gold put options at a US$1,200 strike price in respect of 3,000 ounces of gold per month from January 2014 to June 2014.
The put options provide protection against a downward movement in the gold price, but leave the Company full exposed to any upward movement in the gold price.
For and on behalf of the Board
Mick McMullen, Chairman
ABN: 88 000 759 535