Saracen Mineral Holdings commences commissioning of Thunderbox

THE BOURSE WHISPERER: Saracen Mineral Holdings (ASX: SAR) has commissioning of the 2.5 million tonnes per annum processing facility at the company’s 100 per cent-owned Thunderbox gold project in Western Australia underway.

First ore has been introduced to the grinding circuit with the refurbishment of all key areas of the processing plant, crushing, grinding and classification, leaching and adsorption having been completed.

The company said the $65 million Thunderbox gold project development continues to run ahead of schedule with costs under budget.

Delivery of this new open pit operation will double group gold production to approximately 300,000 ounces per annum at a forecast all-in-sustaining-cost (AISC) of greater than $1075 per ounce, diversifying Saracen’s production profile.

“The commencement of commissioning of the Thunderbox processing plant within ten months of Board development approval is an outstanding achievement,” Saracen Mineral Holdings managing director Raleigh Finlayson said in the company’s announcement to the Australian Securities Exchange.

“We remain positioned to complete commissioning and ramp-up to steady-state output ahead of the schedule and budget outlined in our March 2015 Feasibility Study.”

Email: info@saracen.com.au

Website: www.saracen.com.au