I know this is the fifth time I am writing about gold but with the precious metal surging to fresh new multi-year highs I need to stress to readers the enormous opportunity that is being presented to investors.
Saracen Mineral Holdings (ASX: SAR) is pleased to advise that, as a result of outstanding progress with mining, plant refurbishment and infrastructure at its 100% – owned Thunderbox gold project in Western Australia, first gold production is now anticipated in the June Quarter 2016.
Saracen has provided a strong exploration update featuring positive drilling results in all areas, Macquarie notes. The broker anticipates mine life extension at Deep South and expects Thunderbox to accelerate now underground drilling is underway.
Macquarie upgrades production forecasts for Saracen Mineral, based on strong drilling results from Whirling Dervish and Karari. A smaller but higher-grade underground mine at Thunderbox will reduce capital expenditure and accelerate development without affecting overall production, the broker adds.
The title above today’s initiation report gives it all away: "The new mid-tier gold miner". Citi analysts forecast strong YoY FY17 growth for revenues and profits. And growth is expected to continue in FY18/19/20 carried by expanded production and multiple new mines.