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

Saracen's Thunderbox gold project achieves commercial production

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Podcast

Energy Evolution | Looking ahead to the energy transition in 2023

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?


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.