Saracen looks to next step

SARACEN Mineral Holdings is looking at how its two existing assets can produce more than 350,000 ounces of gold per annum.

Saracen looks to next step Saracen looks to next step Saracen looks to next step Saracen looks to next step Saracen looks to next step

Guidance for this financial year and next is 300,000oz from Carosue Dam and Thunderbox, but the company says the 40% jump in reserves in FY17 to 2.1 million ounces paves the way for higher production and longer lives.

By FY20, Saracen sees Carosue Dam producing 190,000oz and Thunderbox 135,000oz, and by FY24, 210,000oz from Carosue Dam and 140,000oz from Thunderbox.

The company said those figures were based on existing milling capacity of around 4.9 million tonnes per annum, but stressed the 350,000ozpa rate was a base case only and it could see the potential for 400,000ozpa.

Potential catalysts to 400,000ozpa include filling the mills with higher grade underground ore as grade increased at dept...