News

Saracen Mineral Holdings has celebrated the 10-year anniversary of the first gold pour at the Carosue Dam operations...

Saracen Mineral Holdings has celebrated the 10-year anniversary of the first gold pour at the Carosue Dam operations (reports MiningNews). The company, which has just experienced one of the biggest quarters in its history, paused to reflect on its history this week. Carosue Dam, Saracen's first operation, poured first gold on January 29, 2010. Saracen took a group of current and former staff and early company backers to site to mark the occasion on Wednesday.

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Upbeat assessment augurs well for what looks like being a much better year for exploration, with Rio pushing ahead with its Antipa JV while juniors Stavely, Chalice, Alkane and Nagambie are among those revving up expectations for the new year.

The about-to-end flood of December quarterly reports from the big and small players in the mining space has confirmed that on the exploration front at least, 2020 is shaping up as something special compared with the hit and miss of previous years. No less than Newcrest (NCM) proved the point on Thursday with its update on drill results from the  Havieron gold-copper discovery, 45km east of its ageing and grade-challenged Telfer gold/copper mine in WA’s Paterson province.

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The coronavirus roller-coaster which drove industrial metals down and gold up is showing signs of slowing...

The coronavirus roller-coaster which drove industrial metals down and gold up is showing signs of slowing, which could be a time for investors to consider a spot of bargain-basement shopping – but there’s no need to rush. Risks remain high and the fear generated by a mutant killer virus is having a real effect on some sections of financial and commodity markets. But if the last virus outbreak, Severe Acute Respiratory Syndrome (SARS) in 2003 is a guide, then a strong recovery is likely.

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Northern Star Resources boss Bill Beament says the company's close alignment with Super Pit co-owner Saracen Mineral Holdings has the potential to add even more value to the iconic gold mining operation...

Northern Star Resources boss Bill Beament says the company's close alignment with Super Pit co-owner Saracen Mineral Holdings has the potential to add even more value to the iconic gold mining operation (reports The Australian Financial Review).

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Shareholders of Northern Star Resources look set for a juicier dividends

Shareholders of Northern Star Resources look set for a juicier dividends as the miner eyes production of nearly 1 million ounces of gold this financial year following its acquisition of a half stake in the Kalgoorlie Super Pit (reports The West Australian).

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The boss of Saracen Mineral Holdings says Northern Star Resources’ acquisition of a 50 per cent stake in the Kalgoorlie Super Pit could be the start of a beautiful and profitable partnership ...

The boss of Saracen Mineral Holdings says Northern Star Resources’ acquisition of a 50 per cent stake in the Kalgoorlie Super Pit could be the start of a beautiful and profitable partnership (reports The West Australian). Speaking after the gold miner posted record quarterly production yesterday, Raleigh Finlayson described Saracen’s $1.1 billion November acquisition of Barrick’s non-operating stake in the Super Pit as a “watershed moment”.

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Saracen Mineral Holdings has reported a record quarter of production from its Western Australian gold operations (reports MiningNews). Group production for the December quarter was 120,127 ounces of gold at all-in sustaining costs of A$1098 an ounce. Thunderbox produced a record 46,594oz, while Carosue Dam produced a near-record 52,899oz. The result included the first contribution of 20,634oz at AISC of $1522/oz from Saracen's one-month owning 50% of Kalgoorlie's Super Pit.

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Continued consolidation of the gold sector could be a theme for the rest of 2020...

Continued consolidation of the gold sector could be a theme for the rest of 2020, according to the investment arm of Bank of America, which believes there is a wave of mid-tier mergers on the way thanks largely what’s happened at the top end of gold. The bank’s argument revolves around last year’s big North American deals which saw Newmont merge with Goldcorp and Barrick acquire Randgold a double-barrelled process which has also seen a large number of non-core assets sold, including the Kalgoorlie Superpit.

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