PRECIOUS METALS

Saracen again delivers

Production on song, Thunderbox the standout

This article is 5 years old. Images might not display.

Saracen's 89,208oz came at all-in sustaining costs of A$1035/oz, with the Thunderbox operation the star performer with a record 40,170oz at AISC of $972/oz.

The circa $10 million addition to the now $153.3 million pile of cash and bullion was attributed to the strong gold price and strong cost performance t Saracen's two operations.

It also came after the company spent $58.3 million on growth projects and exploration.

Saracen has previously guided to production of 345,000-365,000oz in the current financial year, and will provide forecasts for 2020 in the September quarter.

At the same time it will update the market on its seven-year outlook with regards the "flight to 400" strategy.

On a down-day for the ASX gold patch, shares in Saracen were down 2% to $2.56, capitalising the company at $2.1 billion.

The stock is down from levels around $3 at the start of 2019, with the decline broadly in line with peers ex-St Barbara - which was sold down last month on mine specific concerns. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.