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Company News Summary

Saracen Mineral Holdings Provides Production Guidance Expansion Update

03 Dec 2012  |  15:44:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Production Guidance & Expansion Update

Saracen Mineral Holdings advised that strong operational performance is continuing into November and December, and the 2012/13 financial year gold production guidance is being increased. Work has also commenced on the expansionary phase of the Carosue Dam Operations. The Company reported gold production and cash costs are better than budget year to date for FY2013; guidance has been lifted to 125-135koz from 120-130koz, with strong production and lower costs forecast in the second half of FY2013; and mining has commenced ahead of schedule on the a cut-back of the Whirling Dervish open pit mine, which will extract 237,000oz Au during FY2014 and 15.

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