Saracen Mineral Holdings Limited (ASX: SAR) has become an Australian mid-tier gold producer with production beginning at the Carosue Dam gold project in early 2010. The company’s assets span the world class mining district of South Laverton situated 120km North East of Kalgoorlie in Western Australia. This includes around 200 granted tenements and applications pending spread over 2,500 square kilometres.
In February 2006, Saracen purchased its tenement holdings as well the 2.4Mtpa Carosue Dam processing facility, accommodation village and other related mine infrastructure, providing an excellent base. Further to this the company’s exploration and development efforts have seen substantial increases in gold reserves and resources, presently standing at around 880,000oz and 3,000,000oz respectively.
Saracen completed a Definitive Feasibility Study on the South Laverton gold project in December 2008 and is quickly progressing to achieve full gold production at a rate of around 120,000oz of gold per annum from the first quarter of 2010.
In addition to its world class mining location, excellent infrastructure, Saracen enjoys an experienced and well credentialed Board, management and staff across offices in Melbourne, Perth, Kalgoorlie and the Carosue Dam mine site.
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