Company News Summary
Saracen Mineral Holdings Provides June 2012 Quarterly Activities Report
Original announcement: Quarterly Activities Report
Saracen Mineral Holdings provided its June 2012 quarterly activities report, reporting operational performance improving strongly, with gold production of 29,557oz for the quarter, an 8% increase over the previous quarter; total 2011-12 production was 116,122oz at A$898/oz (excluding royalties), comparing favourably with guidance of 110-120koz at $900-$975/oz; first contribution of Red October to reportable gold production (3,309oz in June quarter at a cash cost of $746/oz); and Red October ore development has produced high grades and confirms the extended strike of the Southern Lode beyond the resource model. The Company also reported underground pre-feasibility studies at Whirling Dervish and Deep South are due for completion during September quarter 2012; and cash holdings comprised A$31.1m.
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