Saracen Mineral Holdings Limited (ASX: SAR) is set to
join the ranks of Australia’s mid-tier gold producers when
production begins at the Carosue Dam gold project in 2010. The
company’s assets span the South
Laverton region of Western Australia.The
Group's assets include over 200 granted tenements and
applications pending – all within the 2,500km2 region of the South
Laverton gold field.
Saracen completed a Definitive Feasibility Study on the South
Laverton gold project in December 2008 and aims to achieve full gold
production at a rate of up to 120,000oz pa of gold from March, 2010.
In February 2006, Saracen purchased the South Laverton tenement
holding as well the 2.4Mt pa Carosue Dam processing facility,
accommodation village and other infrastructure.
The company’s gold reserves now stands at 580,000 increasing 60% on the previous reserve calculation.
