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Saracen Mineral Holdings (SAR) – Consistent Production

    Home Latest Research Saracen Mineral Holdings (SAR) – Consistent Production
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    Saracen Mineral Holdings (SAR) – Consistent Production

    By Wendy McEvoy | Latest Research | 0 comment | 17 April, 2019 | 0

    Saracen (SAR) produced 89.2koz gold at an all-in sustaining cost (AISC) of A$1,035/oz for the March Q, beating Argonaut’s forecast of 87.0koz @ A$1,100/oz. Group production has now averaged ~89koz for three quarters highlighting the stability of operations. Thunderbox was the standout for the Q, generating record production of 40.2koz at an AISC of A$972/oz. The Company added $3.3m cash and bullion for the quarter, after investing $58m in growth, improvements and exploration. Revenue was buoyed by a 2% QoQ increase in the realised gold price to A$1,766/oz. This is the highest average AUD price for many years. Unaudited NPAT was between $26m to $29m. Argonaut maintains a HOLD recommendation with a $2.50 price target.

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