PERTH (miningweekly.com) – ASX-listed gold miner Saracen Mineral Holdings has beaten its full year production expectations for the year ended June, announcing record production and cash flows.
Saracen announced that full year production reached 520 414 oz, which was above the guidance of 500 000 oz previously set, with the Super Pit joint venture contributing 132 595 oz, Carosue Dam contributing 203 281 oz and the Thunderbox project contributing the balance of 184 538 oz.
In the three months to June, gold production declined slightly from the 158 132 oz produced in the March quarter, to 145 830 oz, with the Super Pit contributing 53 398 oz, Carosue Dam contributing 50 315 oz and Thunderbox contributing 42 117 oz.
MD Raleigh Finlayson on Wednesday told shareholders that the results reflected Saracen’s ongoing success in meeting or exceeding guidance, and in generating growth.
“We have now met or exceeded guidance for seven straight financial years. We are also meeting our undertakings to continue driving growth and we expect this to be clearly evident in our strong news flow over the coming months,” he said.