Company News Summary
Saracen Mineral Holdings Announces Record Quarterly Gold Production
Original announcement: Record quarterly gold production
Saracen Mineral Holdings announced that robust production and cash generation for the December 2016 Quarter. The Company produced a record 66,222oz in the December 2016 quarter, resulting in record production of 127,692oz in the first six months of FY2017. The strong result ensures the Company is on track to achieve its goal of doubling its production rate to 300,000oz p.a. by the June quarter, 2017. Cash and bullion increased by $1.5m over the quarter to $43.9m despite its spending $14.6m on exploration and growth capital.
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