trending Market Intelligence /marketintelligence/en/news-insights/trending/-6d14clatnaK_tuVXcYmkg2 content esgSubNav
In This List

Saracen's Thunderbox gold project achieves commercial production

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Saracen's Thunderbox gold project achieves commercial production

SaracenMineral Holdings Ltd. said May 10 that commercial production wasdeclared at the Thunderboxgold project in Western Australia, effective April 1, after a capitalinvestment of A$63.4 million.

This was achieved two months after the project its first gold inFebruary, ahead of schedule and below budget.

The processing plant is operating at nameplate capacity of2.5 million tonnes per annum. The mine produced 7,026 ounces of gold at all-insustaining cost of A$1,107 per ounce in April.

Saracen said that group production is ramping up to around300,000 ounces per year at all-in sustaining cost of less than A$1,075 perounce.

In addition, the company has fully paid the considerationfor acquiringThunderbox, which totaled A$31.6 million, including the of the 1.5% royalty and thefinal payment of A$3.0 million.

Lastly, exploration drilling is underway at , located 65kilometers south of Thunderbox, with initial results expected in the Septemberquarter.