"Saracen Mineral Holdings provided its June 2013 quarterly activities report, reporting that gold production for the quarter was a record 37,259oz from the processing of 606,474t at a grade of 2.09g/t Au and recovery of 91.3%. The quarterly average head grade of 2.09g/t was also the highest quarterly average since operations commenced in January 2010. The company also reported that commercial open pit mining operations continued at Deep South and Karari during the quarter. The Deep South open pit, which is located 80km north of the mill, was completed ahead of schedule at the end of April 2013, and the mining fleet was demobilised in May. The Deep South open pit was successful, with approximately 5,500oz mined above ore reserve estimates due to a 26% increase in reconciled headgrade. Approximately 20,000t @ 3.92g/t remains on the ROM stockpile as at the end of June and will be processed in the September 2013 quarter."
SAR Price at posting:
14.6¢ Sentiment: LT Buy Disclosure: Held
