saracen has released a good last quarter result for jun 2012 just over two weeks ago. in the result, management has forecast of 2013 production will be 120k to 130k oz gold production (with good chance of increase of the amount materially during the course of the year). but the production cost will be higher at $975 to $1075 per oz(part of the increase is due to write back of previous already announce and paid already for non cash impairment of around $150 per oz). so true production cost is around $835 to $935 per oz.
since that ann, our share prices are dropping like a rock day after day. from 52 cents to now 34 cents in just two weeks. with constant selling pressure and above average volume.
SAR Price at posting:
33.1¢ Sentiment: None Disclosure: Held
