PERTH (miningweekly.com) – ASX-listed gold miner Saracen Mineral Holdings on Monday announced that it was ahead of schedule to double its gold production to 30 000 oz, following a strong December quarter.
During the three months to December, Saracen produced 44 265 oz of gold, taking first-half production to 82 405 oz of gold and exceeding the half-year expectations of between 75 000 oz and 80 000 oz.
Production during the quarter under review was sourced from the Carosue Dam operation, in Western Australia.
However, Saracen was currently developing the A$65-million Thunderbox gold mine, also in Western Australia, with the aim of doubling production. Commissioning of the mine was expected to take place in the current quarter.
“2016 will be a transformational year for Saracen as we bring Thunderbox on stream and elevate the company into the ranks of Australia’s midtier gold producers,” said MD Raleigh Finlayson.