Saracen Minerals announces record FY18 gold production

Company News

by Anna Napoli

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Last Updated: 21/02/2020 2:28 PM

Saracen Minerals (ASX:SAR) has announced record financial year 2018 gold production of over 316,000 ounces.

The gold miner has increased its financial year 19 guidance from 300,000 to 325-345 000 ounces.

The company announced cash and equivalents of $118 million up from $102 million in March despite spending $23 million on growth and capital exploration.

Saracen said Financial year 18 was an outstanding year of production growth and exploration success with production exceeding upwardly revised guidance.

Shares in Saracen Minerals (ASX:SAR) are trading are trading 0.24 per cent higher to $2.06.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.