Tag: Saracen Minerals

Saracen Minerals: Flight to 400

Saracen Minerals: Flight to 400

All images: Saracen Minerals BY: JESSICA CUMMINS Capping off FY18 with record breaking results and hitting 2.5 million ounces in gold reserves brings Saracen Minerals closer to reaching its goal of 400,000ozpa within the next five years. Saracen Minerals managing director Raleigh Finlayson speaks with The Australian Mining Review about its achievements and plans for the rest of the year. GOLD miner Saracen Minerals is in good stead with a FY18 net profit surge of 166 per cent to $75.6 million; an increase from $28.4m a year prior. Saracen Minerals managing director Raleigh Finlayson said the strong results were particularly pleasing given the miner was in a growth phase. Mr Finlayson said profit and free cash...

Saracen’s record breaking results

Saracen’s record breaking results

Image: Saracen Mineral Holdings. BY JESSICA CUMMINS SARACEN Minerals capped off FY18 with a net profit surge of 166 per cent to $76 million; an increase from $28.4 million a year prior. Results stemmed from increased gold sales of 317,675 ounce sand lower AISC of $1139/oz. Underlying NPAT – excluding the $10.6 abnormal profit received from its sale of King of the Hills; doubled to $67.3 million. In early August, Saracen reported a 64 per cent increase in reserves at its Karari Dervish project to 1 million ounces, , and an increase in reserves to 980,000oz at Thunderbox. Saracen managing director Raleigh Finlayson said the strong results were particularly pleasing given the company was in the middle of a major...