Saracen Mineral Holdings Limited announced production results for the quarter ended June 2017. For the quarter, production was up 23% on the previous quarter at 79,985 ounces, a record for the company which is above the run-rate required to achieve its 300,000oz pa production target. This strong performance ­ which was largely driven by rising mine grades ­ saw a 25% reduction in all-in sustaining costs to AUD 1,127/oz, helping to drive a strong financial performance for the quarter. Gold sales of 78,534oz underpinned revenues of AUD 127.3 million, allowing Saracen to grow its cash and equivalents position to AUD 45.2 million at quarter-end (up from AUD 30.6 million last quarter).

For the fiscal year 2018, the group production outlook remains 300,000oz at an AISC of AUD 1,150/oz.