Saracen Mineral Holdings (SAR) released December Q results with strong group production of 88.8koz at an all in sustaining cost (AISC) of A$1,067 (vs September Q : 88.9koz @ A$993/oz). Subsequent to a strong first half, SAR has increased FY19 guidance from 325-345koz to 345-365koz. SAR has also upscaled FY19 capital commitments with an additional $35m for mine development at Karari/Dervish and Thunderbox. At 31 December the Company had $142.6m in cash, bullion and liquid assets. Downgrade to SELL from HOLD with a revised $2.10 target price (from $1.85).
To access our Saracen Mineral Holdings report please log in under the Client Area Log In at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
