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Saracen up on record results

Posted by: Admin | Posted on: April 17th, 2018 | 0 Comments

The Western Australian-based miner also upped its 2018 guidance, from 300,000 ounces of gold at an all-in sustaining cost of A$1,150 an ounce, to 310,000-315,000oz at A$1,100-$1,150/oz (US$854-$893/oz).

Its shares were up around 5.6% to a high of A$1.895 in late afternoon trade, putting it at the top of the list of market risers on the benchmark index today.

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The gold price has been hovering around the $1,344/oz mark.

There were some strong gains seen in Toronto despite its metals and mining sector closing down slightly yesterday.

Dual-listed, Philippines-focused RTG mining (TSX:RTG) was up C3c or more than 21% to 17c on no news.

Gold junior Quadro Resources (TSXV:QRO) gained 2.5c, or more than 71%, to close at 6c yesterday, making it one of the bigger risers on the Venture Exchange.

Quadro has an exploration programme underway at its Staghorn project in Newfoundland but has not updated investors since February.

Finally, gold hopeful and takeover target Maritime Resources (TSXV:MAE) closed down half-a-cent to C11.5c after telling shareholders to take no action over Anaconda Mining’s formal, all-scrip offer. 

Article source: http://www.mining-journal.com/capital-markets/news/1336326/saracen-up-on-record-results

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